The crypto market has been struggling since topping out in June but this does not mean institutional interest in crypto has diminished. The Chicago Mercantile Exchange (CME) Group tweeted that customer interest in CME Bitcoin (BTC) futures remained strong in Q3 2019 compared to Q3 2018. The total increase in open interest during this period was about 61%, which shows that the involvement of institutional traders is on the rise. Similarly, digital asset manager Grayscale Investments reported that its products received a total investment of $254 million in Q3 2019. That was a sharp increase over Q2 2019 when the …

A draft report by the G7 group of nations outlined the risks associated with “global stablecoins.” The report said: “No stablecoin project should begin operation until the legal, regulatory and oversight challenges and risks are adequately addressed.” This report is likely to increase the troubles for Facebook’s Libra project. Former Commodity Futures Trading Commission chairman Christopher Giancarlo believes that Libra and the prospects of central bank digital currencies will increase regulator's intrusions into the crypto space. This can work as a double-edged sword. If regulators provide clarity, it is likely to attract large institutional players into the game, but if …

The wait for a Bitcoin (BTC) exchange-traded fund got a bit longer as the United States Securities and Exchange Commission (SEC) shot down the proposal by Bitwise Asset Management and NYSE Arca. The regulators felt that the application did not satisfy the requirement that it will “prevent fraudulent and manipulative acts and practices.” However, there was no noticeable reaction to this news, which shows that the market participants did not have high expectations of an approval. Meanwhile, as Bakkt’s volumes continue to unimpress, the Chicago Mercantile Exchange (CME) Group is upbeat on its forthcoming Bitcoin options product. Tim McCourt, CME …

Grayscale director of sales and business development Rayhaneh Sharif-Askary said that institutional interest in the crypto space has been strong throughout this year. The second quarter inflow was $85 million with 80% coming from institutions. Though this is positive, it shows that the inflow is only a trickle and a fraction of the firepower the institutions hold. A Bitcoin (BTC) exchange-traded fund (ETF) can also boost interest in the asset class. The United States Securities and Exchange Commission (SEC) will announce their decision on Bitwise Asset Management’s ETF proposal before the Oct. 13 deadline. Bitwise managing director and global head …

Total crypto market capitalization has held the $200 billion mark for the past few days. This is a positive sign, as it shows that market participants are not panicking at lower levels but are using dips to buy. The first leg of the bull phase was led by Bitcoin, which saw its dominance rise from just above 50% at the start of the year to about 71% in early-September. In the last few days, the action has been gradually shifting to altcoins, which can be seen from the gradual decrease in Bitcoin’s dominance, which is down to 66.7%. This increases …

Apple CEO Tim Cook said that he is not comfortable with private companies creating their own cryptocurrencies. Therefore, he ruled out plans of Apple releasing its own currency token. Though Facebook has announced plans to launch the Libra stablecoin, it is facing a lot of regulatory hurdles. Due to this, a few early backers of the project are reportedly planning to drop out, prominent among them being PayPal. The United States House Financial Services Committee has announced plans to question Facebook COO Sheryl Sandberg about Libra and the company’s advertising policies. After this, the committee wants Facebook CEO Mark Zuckerberg …

Manuel Andersch, senior FX analyst at the Bayerische Landesbank has published a report, which suggests that the “forthcoming halving effect has hardly been priced into the current Bitcoin (BTC) price.” Using a stock-to-flow ratio metric, the report projects a target price of $90,000 for Bitcoin in 2020. Though there were great expectations for the launch of Bakkt, it turned out to be a dud. A new report by Binance research suggests that the disappointing trading volume on Bakkt might have triggered the recent fall in Bitcoin. Chicago Mercantile Exchange (CME) Group has said that they do not have any plans …

Various cryptocurrency operators have joined hands to launch a rating system that will define how close a digital asset resembles a security. On a scale of one to five, one will be awarded to cryptocurrencies that are least characteristic of a security, whereas five will have the most similarities to a security. This rating system will provide clarity to asset managers who have stayed away due to the uncertain legal status of the cryptocurrencies. When sentiment turns bearish, many negative voices can be heard. Mark Cuban has reiterated his negative stance on Bitcoin (BTC) and has said that he would …

When Bitcoin (BTC) rallies sharply it does not leave a chance to buy. Traders then regret missing the bus. They promise themselves that they will buy on the next dip. However, when the prices correct, fear grips the traders and they again miss pulling the trigger. While there will be many reasons for a fall, unless the basic fundamental reason changes, traders should continue to look for buying opportunities. CEO & chief investment officer of Morgan Creek Capital Management Mark Yusko believes that investors should use the fall in Bitcoin to buy because the fundamentals have been improving over the …

The total cryptocurrency market capitalization had repeatedly taken support close to the $250 billion mark since mid-July of this year. However, the recent collapse in crypto markets led by Bitcoin (BTC) has broken the support and market capitalization has dipped to just under $220 billion. It is difficult to pinpoint the exact reason that started the fall. A few speculators might have built up positions expecting the prices to surge following the launch of Bakkt. However, when that did not play out, they started closing their trades in a hurry. As a result, important support levels cracked and the rest …

The long-awaited launch of Bakkt has seen a lukewarm response as only 63 Bitcoin (BTC) contracts have been traded as of press time. This is not unexpected because Bitcoin has been range-bound for the past few weeks, hence, institutional traders will not be in a hurry to initiate positions. They are likely to wait and watch for a few days and then jump in. Bakkt CEO Kelly Loeffler said that the launch of Bakkt will instill “trust through regulation and secure custody.” As the institutional players warm up to Bakkt, we anticipate volatility to pick up in the next few …

Though Bitcoin’s (BTC) price action has largely been lackluster in the past few days, it could change with the launch of Bakkt. Fundstrat Global Advisors co-founder Tom Lee is positive on “Bakkt and its ability to improve trust with institutions to crypto.” The crypto markets have been waiting for institutional interest to fuel the next leg of the up-move and Bakkt is an important step in that direction. To maintain its advantage, the Chicago Mercantile Exchange (CME) Group plans to introduce options on Bitcoin futures in the first quarter of 2020, if it gets the necessary regulatory approvals. Tim McCourt …