TagCME

Experts Weigh In on This Week’s 10% Bitcoin Price Spike

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bitcoin, bitcoin price

This week brought a small reprisal for bitcoin price and the broader cryptocurrency market as it witnessed $20 billion added to its total market cap by late Tuesday. This was also reflected by an approximate 10% gain for BTC alone; so what was behind the rise? In somewhat atypical fashion, the week started on a good note, with bitcoin swelling by $700. Interestingly, this coincided with the close...

Bitcoin Futures Continues Making Bitcoin Price Ridiculously Predictable

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Bitcoin, bitcoin price, bitcoin futures

Bitcoin (BTC) started this week off in good spirits, citing an impressive rise of around 8%. Interestingly, analysts are attributing some of this action to the close of the Chicago Mercantile Exchange (CME). On Labor Day, September 2, the CME closed up shop. Far from the typical bloody Monday the cryptocurrency markets typically exhibit, many crypto assets shot up seemingly following BTC’s...

Hedge Funds Are on the Losing Side of the Bitcoin Futures Bet Lately

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bitcoin

As speculative interest has returned to bitcoin futures markets, so too have short sellers. According to the most recent CFTC Commitment of Trader’s (COT) report, hedge funds may have been getting roasted by BTC/USD’s meteoric rise through $11,000. Hedge Funds Still Bearish Bitcoin Futures Despite Rally A parabolic ascent is something that tends to attracts aggressive short-sellers, and the COT...

What Cboe’s Looming Crypto Futures Exit Means for the Bitcoin Price

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cboe, bitcoin price

By CCN: After nearly 18 months of operation, the Cboe bitcoin futures market is closing for good, or at least for the foreseeable future, with the expiration of its last bitcoin futures contract on June 16. Speaking to Bloomberg, Cboe spokeswoman Suzanne Cosgrove revealed that the company does not have plans to release a new product for cryptocurrency trading at this time, reaffirming the closure...

$546 Million: CME Bitcoin Futures Hits Record 1-Day Volume; Could Spike BTC Beyond $6,000

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Bitcoin futures, bitcoin, bitcoin price

Throughout the past seven days, following its initial rally on April 1 from $4,200, the bitcoin price increased from around $4,673 to $5,218, by well over 11 percent. The rest of the cryptocurrency market including major crypto assets such as Litecoin and Ethereum recorded large gains against the U.S. dollar with the momentum established by bitcoin. Bitcoin Needs Fuel to Move Out of $5,000 to...

Bitcoin Price Plunge to $3,700 Expected, Say Traders; Retreat is a Blessing For Crypto

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Bitcoin, bitcoin price

Following a rapid surge in the Bitcoin price from $3,614 to $4,000 within a span of three days, traders are expecting BTC to retrace by around 7 percent to $3,700. The cautious projection on the price trend of the dominant crypto asset comes after the failure of BTC to climb beyond the crucial $4,000 resistance level. On February 19, BTC achieved $4,000 across major crypto exchanges including...

Bitcoin Needs to Kiss the Government’s Ring, Claims CME Chief Terry Duffy

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cme bitcoin futures terry duffy

Crypto will never be anything more than a fringe investment until it gets government backing. That’s the assessment of Terry Duffy, the CEO of top derivatives marketplace CME Group.  Duffy told Bloomberg that resistance to crypto is too great to overcome without institutional support from a central authority such as the government (see video above starting at 9:40). “Until...

Bitcoin Futures Manipulation: How it Works and How to Reduce It

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The markets were euphoric. The community was cheer-leading the imminent launch of Bitcoin futures first on the CBOE and then on the CME. Bitcoin reached its all time high. They saw this as an indication that institutional investors were just around the corner and that Bitcoin was about to “moon.” Fast forward to today and the feeling is quite the opposite: hodlers are left scratching...

Newsflash: UK Govt. Halts Royal Mint’s Plans for Gold-Backed Cryptocurrency

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BitGo Gold Royal Mint Blockchain

The UK government has blocked a Royal Mint plan to create a “digital gold” token that would trade on a cryptocurrency exchange. According to sources cited in Reuters, the British finance ministry refused to approve the 1,100-year old Mint’s plans to issue as much as $1 billion worth of “Royal Mint Gold” (RMG) tokens, which would have been backed by gold assets stored...

Bitcoin Futures Trading Rose 41 Percent in Q3: CME

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bitcoin price

Bitcoin futures trading volumes continued to rise in Q3, with derivatives exchange CME reporting a 41 percent quarter-over-quarter increase in average daily volume. Bitcoin Futures Volumes See Major Bump in Q3 During Q3, the exchange averaged 5,053 contracts — each equivalent to 5 BTC — traded during each daily trading session, representing 25,265 BTC in volume. Open interest in CME’s...

U.K. Exchange Crypto Facilities Launches Bitcoin Cash Futures

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bitcoin cash futures UK exchange

Bitcoin cash, the fourth-largest cryptocurrency, took another step into the big leagues on Friday when a European derivatives trading platform launched the first regulated, USD-denominated bitcoin cash futures. This product, which began trading on the U.K.-based Crypto Facilities on Friday at 4 p.m. local time, allows investors to bet on the future price movements of bitcoin cash, as well as...

CME Won’t Be Listing New Cryptocurrency Futures Anytime Soon: CEO

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CME Group bitcoin futures

CME Group, the second regulated U.S. derivatives market to list bitcoin futures and by far the largest trading venue for these products, will not be listing any new cryptocurrency futures anytime soon, the firm’s chief executive said on Thursday. Speaking with Bloomberg Television, CME Group CEO Terry Duffy said that the reputation of his firm is “too important” to him to rush into listing new...

Wall Street Traded $572 Million in Bitcoin Futures During Tuesday’s Bull Run

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bitcoin dow jones industrial average

The bitcoin price is rallying, and this time, it looks like Wall Street has shown up to the party. On Tuesday, bitcoin brief briefly broached the $8,500 threshold on Bitfinex for the first time since mid-May, and while it has since pulled back several hundred dollars from that two-month high, it has nevertheless risen 10 percent in the past week and 29 percent over the course of a month. As noted...

Institutional Investors Swap Bitcoin Futures for Physical BTC in Wall Street First

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Wall Street dow jones us stock market

Bitcoin took a significant step toward becoming a mainstream financial instrument this week, as two institutional investors completed the first-ever exchange for physical (EFP) transaction involving bitcoin futures. The CME EFP Bitcoin transaction, facilitated by E D & F Man Capital Markets, a registered futures commission merchant, and itBit, an institutional-grade cryptocurrency exchange...

CME Bitcoin Futures Daily Volume Spikes 93% in Q2 2018

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stock market

CME Group’s bitcoin futures average daily volume spiked 93% in the second quarter over the previous quarter, while open interest posted a 58% increase, the company noted on Twitter. Average daily volume jumped from 1,854 in the first quarter to 3,577 in the second quarter, while open interest rose from 1,523 to 2,405 in the same period. CME provides its CF Bitcoin Reference Rate (BRR) and CME CF...

Economist Claims Bitcoin Futures Killed the Strong Rally in Early 2018

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The FED and prominent economists believe that the bitcoin futures market ultimately led the cryptocurrency market to crash and record the third worst correction in its history. Real Impact of Bitcoin Futures Yukio Noguchi, a Japanese economist, claimed in a recent column that the abrupt change in trend from a bull market to a strong bear cycle was triggered by the launch of the CBOE and CME...

SEC Statement on Ether ‘Clears Stumbling Block’ for Ethereum Futures: CBOE President

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ethereum futures

A top executive at the first US exchange to list bitcoin futures contracts said that the Securities and Exchange Commission’s statement that ether will not be regulated as a security will help pave the way for exchanges to list ethereum futures. CBOE Global Markets President Chris Concannon made this comment in a statement quoted by Bloomberg, predicting that this regulatory clarity will make the...

CFTC Demands Trading Data From Bitcoin Exchanges In Price Manipulation Probe

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cftc

The US Commodity Futures Trading Commission (CFTC) has told certain bitcoin exchanges to provide extensive trading data to determine whether or not manipulation has distorted cryptocurrency markets, unnamed sources told The Wall Street Journal. Regulators opened the investigation after CME Group Inc. introduced bitcoin futures in December, according to the sources. The futures’ final values...

Ethereum Futures Watch: CME Group Says It’s Gauging Client Interest

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ethereum price

Chicago-based derivatives exchange CME Group said that it plans to gauge client interest for an ethereum futures product now that it has launched a price index and benchmark for ether, the world’s second-largest cryptocurrency. Speaking with Bloomberg on the sidelines of an industry conference in New York, Tim McCourt, CME’s head of equity products, said that the exchange operator will test the...

Bitcoin Price Decline Driven by Q4 Futures Launch, Fed Researchers Claim

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bitcoin price

Bitcoin’s winter price peak and subsequent decline coincided with the introduction of bitcoin futures trading on the Chicago Mercantile Exchange. A team of researchers doesn’t think it was a coincidence. Galina Hale, Arvind Krishnamurthy, Marianna Kudlyak and Patrick Shultz — economic researchers writing for the Federal Reserve Bank of San Francisco — claim in a research paper that...

Central Bank Cryptos, Vitalik Trolls and Hard Forks: This week in Crypto

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Vitalik Buterin Ethereum

Make sure you check out last weeks post here, now let’s go over what happened in crypto this week.  Price Watch: Bitcoin is up 3%  this week gaining back some of the 20% it lost last week. The price was largely sideways this week retesting $7,000 and $7,350 before coming back down to $6,980 and failing to hold the $7,000 level. The price was as low $6,500 this week. as Despite this sideways...

CBOE Completes Upgrade, Other Crypto Futures Coming?

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When the Commodity Futures and Trading Commission announced that two major exchanges could begin to offer bitcoin futures to investors, people in the crypto community heralded it as a triumphant day. This decision was announced on December 1, 2017, and the price of Bitcoin rose 13% on this news. It was seen as a significant move into more mainstream finance for cryptocurrencies. For the first...

Bitcoin Futures: A Way to Control Cryptocurrency Markets?

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Can Wall Street investors manipulate the cryptocurrency markets via Bitcoin futures? Based on the recent fall in the markets during the week of January 15th, it seems that “yes” is the answer to that question. During the market slump last week, there was some banter on Reddit that the crash was going to end Wednesday, January 17 at 4:00 PM EST when the markets closed the first Bitcoin futures...

Betting against Bitcoin: Low Number of Shorts Shows Skeptics are Scared

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Economists, bank executives, and a small portion of investors in the traditional finance industry have publicly condemned bitcoin, falsely describing the cryptocurrency as a fraud, a money laundering tool, and a bubble. No Shorts However, as demonstrated in the price trend of bitcoin and the volumes on the bitcoin futures exchanges on the Chicago Board Options Exchange (Cboe), CME Group, and...

Former FDIC Chair Argues against Banning Bitcoin

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Sheila Bair, former director of the U.S. Federal Deposit Insurance Corporation (FDIC), recently argued that bitcoin shouldn’t be banned because of its “lack of intrinsic value.” Instead, the government should ensure a well-informed market, free from fraud, manipulation. and speculation. In an op-ed piece for Yahoo Finance, Bair initially pointed out that bitcoin is a bubble, given its...

Futures Effect? Bitcoin Price Surges 10% in Rebound to $15,000

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Bitcoin price

Earlier today, on December 26, bitcoin price surged by more than 10 percent and entered the $15,000 region for the first time this week. The recent price surge of bitcoin follows a major correction which occurred on December 23 and 24, which led to a sudden drop in the price of bitcoin to $11,500. However, within less than 48 hours, bitcoin and most of the cryptocurrencies in the market have...

Down 22%: Bitcoin Price Drops From $17,000 to $13,300 in a Single Day

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Bitcoin price

Earlier today, on December 22, the bitcoin price fell by more than 22 percent from $17,000 to $13,300. Analysts have attributed the fall to the rapid surge in the price of bitcoin over the past month. Bitcoin Price Still Up 70% on Monthly Basis Since November 22, within the past 30 days, the price of bitcoin increased by over 91 percent even with the price of bitcoin at $15,900. The price of...

Official: CME Bitcoin Futures Exchange is Live, Inflow of $10 Billion Expected

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CME Group, the world’s second-largest options exchange behind Cboe with a market cap of $51.4 billion, has officially listed bitcoin futures contracts on its trading platform earlier today, on December 18. Bitcoin Reference Rate (BRR) on the CME bitcoin futures exchange, which aggregates the trade flow of major bitcoin spot exchanges during a specific calculation window into a once-a-day...

Bitcoin Price Surpasses $19,600 and is Up 9%, Rapidly Surging Towards $20,000

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The bitcoin price has surpassed the $19,600 mark and is rapidly surging towards $20,000. The market has demonstrated optimism towards CME’s bitcoin futures listing tomorrow, on December 17. CME’s Bitcoin Futures Listing on December 18 The global finance industry and bitcoin market are highly anticipating the launch of CME Group’s bitcoin futures on December 18, especially after the successful...

Rising Transaction Costs Could Trigger a Bitcoin Price Crash: CME Economist

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A CME Group economist believes that rising transaction costs could cause a bitcoin price crash. Erik Norland, an executive director and senior economist at U.S. derivatives exchange operator CME Group, published an article theorizing that the rising cost of bitcoin transactions could be an early indicator of an impending bitcoin price crash. The average transaction cost is calculated by dividing...

Big Banks Block Client Access to Sunday’s Bitcoin Futures

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Blockchain bank test

Big banks are not rushing to facilitate investment in the first bitcoin futures market that goes live on Sunday. Citigroup Inc. and Bank of America Merrill Lynch have told customers they will not provide access to the cboe bitcoin futures that goes live on Sunday, according to The Wall Street Journal. Goldman Sachs Group Inc. which is the U.S.’s largest futures broker, will reportedly only give...

Novogratz: Governments Won’t Be Able To Muzzle Bitcoin

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Mike Novogratz Bitcoin price

Bitcoin’s rising price brings the prospect of increased government scrutiny, but governments aren’t going to have an easy time regulating bitcoin, Michael Novogratz, CEO of Galaxy Investment Partners, told CNBC in a recent “Power Lunch” interview. Novogratz, a former hedge fund manager at Fortress Investment, is creating a $500 million fund to invest in cryptocurrencies. He said it is not likely...

$12,000 and Higher! Bitcoin Price Hits New Milestone as Market Turns Optimistic

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Bitcoin price $12,000

Earlier today, on December 6, the bitcoin price achieved a new all-time high at $12,278, within 24 hours since achieving its previous all-time high at $12,000. Yesterday, on December 5, CCN reported that the price of bitcoin surpassed the $12,000 mark ahead of the launch of CBOE’s bitcoin futures launch. The market has been highly optimistic in regards to CBOE and US-based bitcoin exchange...

Bitcoin Hits $12,000 Ahead of Futures Contracts Launch

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Bitcoin price

Bitcoin hit an all-time high of $12,000 today, with a market capitalization of around $200 billion, according to data from CoinmarketCap. The price topped the $12,000 mark and reached $12,032 at 13:49:12 UTC. The price dipped to $11,972.10 at 14:54:12 UTC. Bitcoin rose 4.66% in the last 24-hour period and nearly 20% in the last seven days. Bitcoin commanded 56.2% of the total crypto market today...

$51 Billion CME to Enable Bitcoin Futures Trading by December 18

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bitFlyer Japan USA bitcoin exchange Cmoe Bitcoin futures

CME Group, the $51 billion US-based financial institution and the world’s largest options exchange, is set to finalize the integration of its bitcoin futures exchange by December 17, and open bitcoin futures for trading by December 18. CME Receives Approval From CFTC In an official announcement, Terry Duffy, CME Group Chairman and CEO, revealed the company has received the approval from the US...

JPMorgan Strategist: Bitcoin Futures Could ‘Elevate Cryptocurrencies Into an Emerging Asset Class’

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JP Morgan, blockchain

JPMorgan CEO Jamie Dimon might consider bitcoin to be a “fraud” that “will not end well,” but one of his top strategists anticipates that the launch of bitcoin futures could turn cryptocurrencies into “an emerging asset class.” As reported by CNBC, Nikolaos Panigirtzoglou, a global markets strategist at JPMorgan, said Friday that the addition of bitcoin futures contracts to regulated trading...

Bitcoin Price Rallies to $10,760 After CME Futures Get Launch Date

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The bitcoin price rallied to a 24-hour high following the announcement that U.S. derivatives exchange CME has self-certified to list bitcoin futures contracts in mid-December. As CCN reported, CME announced on Friday that, pending final regulatory approval, the exchange will launch its much-anticipated bitcoin futures product on Monday, Dec. 18. Though CME had signaled its intent to launch these...

CME’s Bitcoin Futures to Launch December 18

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Chicago derivatives exchange operator CME Group has announced that it has self-certified the initial listing of its bitcoin futures contract to launch on December 18. CME Chairman and CEO Terry Duffy made the historic announcement on Friday, revealing that the exchange has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to begin trading bitcoin futures in just a little...

With CME’s December Futures Launch, Can Bitcoin Price Hit $10,000 This Year?

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Bitcoin price

CME Group, the largest options exchange in the global finance sector, has announced December 10 as the official launch date for its bitcoin futures trading platform. Analysts expect the bitcoin price to surpass $10,000 upon the launch of CME’s bitcoin futures exchange. Earlier this month, several highly regarded financial analysts including RT’s Max Keiser and billionaire hedge fund investor Mike...

Equities Brokerage Warns Against CME’s Bitcoin Futures Plan

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cryptocurrency exchange

Themis Trading LLC, an equities brokerage agency for institutions, has joined the attack on CME Group’s decision to launch bitcoin futures. A recent blog on the company’s website argues that the U.S. Commodity Futures Trading Commission (CFTC) should not approve CME’s bitcoin futures. Other Wall Street investors have also spoken out against CME’s bitcoin futures and compared it to...

CME Dashes Hopes For Bitcoin Futures Contract, But Upbeat On Bitcoin

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bitcoin price

CME Group, the world’s largest futures exchange, will not be introducing bitcoin futures, a hope that emerged when the company introduced a bitcoin index last year. Bryan Durkin, president of the group, told Bloomberg Television his company does not expect to go forward with a futures contract in the near future. Bitcoin futures would likely bring professional market traders to cryptocurrency, a...