The former chief executive officer of both Bakkt and the New York Stock Exchange’s parent company Intercontinental, U.S. Senator Kelly Loeffler, has handed over documentation concerning her trading activities to the U.S. Justice Department, or DoJ, the Securities and Exchange Commission (SEC), and the Senate Ethics Committee. Loeffler is seeking to quell widespread accusations of improper trading, after the third party managing Loeffler and her partner’s portfolio offloaded millions in shares shortly after the senator attended a closed-door senate hearing on coronavirus in January. In a statement issued on May 14, Loeffler claimed that the documents evidence that both her …

Multi-millionaire and former hedge fund manager, Mike Novogratz, recently posited government spending around coronavirus efforts may be the cause of recent mainstream and crypto market rallies. "Household Income in the USA could actually be up this year even though we could have 25% unemployment," Novogratz said in a May 6 tweet, adding: "That is unprecedented.Thanks Uncle Sam and Chairman Powell. Helps with social unrest, might explain the retail bid to the stock market, and certainly helps make the BTC case." It is unclear exactly what Novogratz meant in his tweet, and which aspects have impacted market prices. Cointelegraph reached out …

Many investors believe a significant price swing is about to happen, as the next Bitcoin (BTC) halving is now less than 15 days away. Despite its demonstrated and incredibly long term potential, no one knows for sure how exactly Bitcoin’s price will respond during and after the third halving. Fortunately, this time, the market has matured to the extent that traders can now deploy strategies to generate gains on both sides of Bitcoin’s price action. Derivatives markets are a relatively new addition to the crypto market, and over the past two years, they have developed enough to allow investors to …

Bitcoin (BTC) tested support at $7,500 on April 24 after a surprise surge saw the cryptocurrency beat out resistance and reliance on stocks. Cryptocurrency market daily overview. Source: Coin360 BTC price puts in a $7.5K foundation Data from Coin360 and Cointelegraph Markets showed BTC/USD attempting to form new support at $7,500 on Thursday. Since hitting a high of $7,760 the day before, only three brief dips to the $7,400 zone have appeared, indicating renewed market strength. The high was Bitcoin’s best performance since mid-March, when markets infamously crashed up to 60%, in line with mayhem in traditional assets. Bitcoin 1-day …

The shockwaves from yesterday’s explosion in the oil markets continued to damage oil prices and shrapnel from the blast caused damage to equities today as U.S. markets closed in the red after a nearly 3-week rebound. West Texas Intermediate crude closed down 9.49% at $9.06, and June 2020 futures dropped from $22.58 to $13.12. What is clear is that investors remain fearful about the future of the entire industry as the coronavirus pandemic continues to dampen demand for oil. Is it over for stocks? Before the start of this week the S&P 500 and Dow had recovered approximately 30% of …

As reported earlier by Cointelegraph, the May 2020 Futures contract for West Texas Intermediate (WTI) Crude dropped more than 100% on Monday. At its worst the price reached negative $37.63, a phenomenon which has never occurred before. WTI May futures (CL1). Source: TradingView The June WTI contract with a May 19 expiry date also dropped nearly 20% to $20.43 per barrel and Barclays IPATH ETN (OIL) fell to $3.50. OIL drops to $3.50. Source: TradingView Less than a month ago, OPEC and Russia ended their oil war by agreeing to cut production by 9.7 million barrels per day on May …

Popular stock and cryptocurrency trading app had a lot of problems in March, and is reportedly trying to make up for it with help from a new injection of cash. According to Bloomberg, Robinhood is in the process of raising $250 million at a valuation of about $8 billion. Citing anonymous sources, the report says the new funding round will be driven by Robinhood’s existing investors, like major venture capital firm Sequoia Capital. The word is that there’s still no final deal. Cointelegraph contacted Robinhood for comment and didn’t receive an immediate response. We will update this story if they …

Following major accusations of insider stock trading during the coronavirus-induced market crash, Senator Kelly Loeffler (R-GA), the former CEO of Bakkt, is liquidating her holdings along with her husband. In an April 8 tweet, Loeffler said that she and her husband Jeffrey Sprecher, CEO of ICE, which is the company that owns Bitcoin (BTC) options contracts regulator Bakkt, are liquidating their holdings in managed accounts to focus on tackling the coronavirus situation. “I’m doing it because the issue isn’t worth the distraction” The former CEO of Bakkt has also published an opinion piece in the Wall Street Journal, emphasizing that …

In a new report Binance Research found a ‘moderate’ positive correlation between Bitcoin and US equities during the first quarter of 2020 — but neither was correlated to gold. Bitcoin was down 10% over the quarter but still outperformed the S&P 500 which experienced a 19% drop. According to the report, the correlation was fairly high at 0.57, as shown through similar patterns in daily business day returns. Gold and long-term treasuries showed no relationship to other markets as they rose by 8% and 23% respectively. The good news for hodlers is that the Binance Research analysts concluded their report …

Since topping out at $6,500 on March 31, Bitcoin (BTC) price had spent the majority of Wednesday in a steady slump which saw the price drop from $6,494 to $6,147. The pullback mirrored the poor performance in traditional markets where the S&P 500 and Dow dropped by 4.41% and 4.44% respectively. The slump in traditional markets appeared to be a reaction to dismal news that the United States surpassed more than 200,000 Coronavirus cases. Earlier this week the White House also stated that it concurs with the estimate that up to 240,000 Americans could die from COVID-19 within the next …

Institutional traders have long known the benefits of derivatives trading, including leverage and hedging. By trading options markets, one can predetermine maximum gains and losses, even with volatile assets like Bitcoin (BTC). Despite being far more complex, such instruments allow traders to generate gains independent of what happens over the next weeks or even months, which is essential for traders’ peace of mind to achieve optimal performance. Retail traders have only recently begun using derivatives, although they have focused almost exclusively on futures contracts offered by BitMEX, OKEx, Binance and so many others. The main problem here is liquidation risk, …

Monday proved to be a surprisingly fruitful day for Bitcoin (BTC) price as the digital asset rallied 12.73% to $6,599 before pulling back to $6,380 a few hours later. Despite gloomy news of the U.S. reaching 3,000 deaths from the Coronavirus and major retailers furloughing 500,000 workers, traditional markets also surged on Monday. The S&P 500 rallied 3.35% while the Dow and Nasdaq gained 3.19% and 3.62% respectively. Crypto market daily price chart. Source: Coin360 As discussed in a recent analysis, the price of Bitcoin needed to reclaim the $6,200 level to avoid a revisit to $5,870. Retaking $6,200 placed …