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Robust BTC derivatives data indicates strong demand for leverage longs. Bitcoin (BTC) has been trading within a narrow 4.5% range over the past two weeks, indicating a level of consolidation around the $34,700 mark.  Despite the stagnant prices, the 24.2% gains since Oct. 7 instill confidence, driven by the impending effects of the 2024 halving and the potential approval of a Bitcoin spot exchange-traded fund (ETF) in the United States. Investors worry about the bearish global economic outlook Bears expect further macroeconomic data supporting a global economic contraction as the U.S. Federal Reserve holds their interest rate above 5.25% in order to curb inflation. For instance, on Nov. 6, China exports shrank 6.4% from a year earlier in October. Furthermore, Germany reported October industrial production down 1.4% versus prior month on Nov. 7. The weaker global economic activity has led to WTI oil prices dipping below $78 for the first time since late July, despite the potential ...

Kraken plans to launch a stocks and exchange-traded funds (ETF) trading platform through a new division called Kraken Securities in 2024. Clients who meet the requirements will gain automatic access to a portfolio balance that includes stocks, crypto assets, and ETFs.  While the exchange is eyeing the U.S. and U.K. markets, it will need authorities’ permission to trade shares and funds. You might also like: Kraken secures virtual asset service provider registration in Spain, Ireland Reportedly, Kraken has already received a license in the U.K. The exchange has also applied for registration with the U.S. Financial Industry Regulatory Authority. Kraken is expanding outside the U.S., where regulations are less strict. They were recently approved to offer crypto exchange and wallet services in Spain. This move also puts them in direct competition with existing platform s providing traditional and digital assets. In February, Kraken was forced to shut down i...

The United States Securities and Exchange Commission isn't likely to block the debut of Ethereum futures ETFs, according to sources. The price of Ether (ETH) surged around 11% to $1,700 following news that the United States Securities and Exchange Commission is set to allow the first exchange-traded funds (ETFs) based on Ether Futures. According to an Aug. 17 report from Bloomberg — which cited anonymous sources familiar with the matter — the regulator does not look as though it will block the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise and Roundhill, that have filed to launch Ether (ETH) futures ETFs in recent weeks. Breaking The SEC is expected to green light an ETH futures ETF The beginning of something potentially massive here… pic.twitter.com/x9KtOpCqei — Bankless (@BanklessHQ) August 17, 2023 It remains unclear which ETF applications would be approve d by the SEC; however, officials indicated that several of the filings may be...

Bitcoin’s future price surge and mainstream adoption could happen independently of institutional adoption of the digital currency. The connection between Bitcoin and gold goes back to Bitcoin’s origin. While it is not mentioned in the Bitcoin white paper, Satoshi Nakamoto actually referred to gold’s rarity in a Bitcointalk forum post when introducing the first version of Bitcoin (BTC) in 2009. This was to emphasize the importance of a limited supply of 21 million coins. Bitcoin’s market value is frequently matched up against gold, which boasts a total worth of $12.8 trillion, and many crypto pundits often point to the approval of a gold exchange-traded fund (ETF) in 2004 as the catalyst for the asset’s price appreciation. Currently, Bitcoin encounters resistance at the $30,000 mark, and its inability to surpass this level could lie in how institutional investors perceive the comparison of BTC and gold as stores of value. Bitcoin’s present market cap of $570 billion outshines traditi...

Bitcoin margin and futures markets display strength as institutional appetite surges after multiple spot ETF requests. After a failed rally above $31,000 on June 23, Bitcoin (BTC) has sustained the $30,300 resistance for the past three days. Curiously, this happened while gold reached its lowest level in three months, trading at $1,910 on June 22, down from a $2,050 peak in early May. Investors now question how solid Bitcoin’s $30,000 support is. So analyzing what caused the recent price rally is essential to understanding how traders are positioned on BTC margin and futures markets. Why did BTC price break above $30,000?  Some analysts attribute Bitcoin’s recent 21.5% gains in 11 days to BlackRock’s spot Bitcoin exchange-traded fund (ETF) filing. But other events might have fueled the cryptocurrency gains. For instance, on June 26, HSBC Bank in Hong Kong reportedly introduced its first local cryptocurrency services using three listed crypto ETFs. Moreover, the ProShares Bitcoin Strat...