Key Metrics Show Institutional Interest in Crypto Is High and Rising

The growth of the crypto derivatives market in 2020 has been a story of its own, mainly driven by Bitcoin (BTC) and Ether (ETH) options traded on exchanges such as the Chicago Mercantile Exchange, Deribit, OKEx, Binance and Houbi.  Record Bitcoin options volumes are indicative of an increasing institutional interest in crypto, but there are better quantitative and qualitative indicators to use, such as open interest, Bitcoin’s price, frequency of block trades, institutional Know Your Customer processes and others. Compared with traditional derivatives, the proportion of institutional investors in the…

Bitcoin Trading Near Make-or-Break Levels: Here’s Why $9,400 Holds The Key

Bitcoin is trading nicely above the $9,100 and $9,200 support levels against the US Dollar. BTC is forming a crucial breakout pattern and it must break $9,400 for a sustained upward move. Bitcoin is trading above the key $9,120 support level and the 100 simple moving average (4-hours). The price is facing a strong resistance near the $9,400 and $9,500 levels. There is a crucial breakout pattern forming with resistance near $9,380 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair must settle above the…

Key Short-Term Scalability Feature Still Needs Research, Says Vitalik Buterin

Research into stateless clients for Ethereum is seen as instrumental for the long-term health of the network, but despite all the progress, some fundamental limitations prevent them from being applied in practice for now. At the Unitize conference, Vitalik Buterin, a co-founder of Ethereum, provided an up-to-date picture on the latest progress and problems for the stateless client transition. Stateless clients, in short, are a way to allow nodes to fully participate in validation without having to hold the entire earlier history of the blockchain. The state represents all current…

Here’s Why 100 SMA Holds The Key

Ripple traded to a new monthly high at $0.2118 against the US Dollar. XRP price is currently correcting lower, but dips remain well supported near $0.1980 and the 100 hourly SMA. Ripple started a downside correction after trading as high as $0.2118 against the US dollar. The price is currently testing the $0.2000 support and it is well above the 100 hourly SMA. There is a connecting bullish trend line forming with support near $0.1950 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is…

Bitcoin Just Saw Key Technical Correction But This Level Can Trigger Fresh Increase

Bitcoin started a downside correction after it was rejected near $9,500 against the US Dollar. BTC is now trading near the main $9,200 support and it could either start a fresh increase or dive to $9,000. Bitcoin is correcting lower and approaching the $9,200 and $9,180 support levels. The price is currently trading below the $9,280 pivot level and the 100 hourly simple moving average. There was a break below a crucial bullish trend line with support near $9,360 on the hourly chart of the BTC/USD pair (data feed from…

Bad Day for Stocks Sends Bitcoin Price Below Key $9.3K Support

Today Bitcoin (BTC) price abruptly dropped 2.93% to $9,160 before traders stepped in to push the price back to the $9,200 level. Crypto market weekly price chart. Source: Coin360 The mild correction occurred as the Dow pulled back 370 points and the S&P 500 and Nasdaq also saw small losses. Gold also pulled back 0.92% but still is only $17 away from its recent high at $1,818. BitMEX XBT-USD Liquidations. Source: Skew The drop below $9,200 resulted in $15 million in BitMEX liquidations and at the time of writing the…

Ripple (XRP) Surges 5%, But $0.20 Holds The Key For Larger Rally

Ripple rallied around 5% and it broke the key $0.1920 resistance against the US Dollar. XRP price is now testing the $0.2000 resistance, which holds the key for a larger upward move. Ripple price is trading with a strong bullish bias above the $0.1900 level against the US dollar. The price is up close to 5% and it tested the $0.2000 resistance area. There is a crucial declining channel forming with resistance near $0.2000 on the daily chart of the XRP/USD pair (data source from Kraken). The main hurdle for…

Dogecoin Rally Runs Into Massive Weekly Resistance: $0.005 Holds The Key

Dogecoin rallied this week from the $0.0022 support area and gained over 100% against the US Dollar. DOGE is currently facing a strong resistance near $0.0500 on the weekly chart. Dogecoin price gained heavily in the past few sessions and rallied more than 100% against the US dollar. The price spiked above the $0.0500 resistance, but it failed to settle and trimmed gains. Earlier, there was a break above a connecting bearish trend line with resistance near $0.0025 on the weekly chart of the DOGE/USDT pair (data source from Binance).…

Global Compatibility Is A Key Factor In The CBDC Race, Says Expert

International interoperability will become the cornerstone of the CBDC race as it goes forward, according to Douglas Arner, director at Asian Institute of International Financial Law at the University of Hong Kong.  Speaking at the Unitize blockchain conference earlier today, Arner argued that the interconnections between different global economic systems will become “one of the biggest challenges — and one of the biggest opportunities” as more countries are becoming involved in CBDC projects across the globe. In Arner’s view, the Chinese financial system already has some predispositions for the cross-border…

Bitcoin Just Saw A Key Technical Breakout: Big Reaction From Bulls Likely

Bitcoin started a steady increase and broke the $9,300 resistance against the US Dollar. BTC is currently up close to 3% and it might continue to rise towards the $9,500 resistance. Bitcoin is gaining momentum and it recently broke the $9,300 resistance zone. The price traded to a new weekly high at $9,372 and settled above the 100 hourly simple moving average. There is a short-term ascending channel forming with support near $9,290 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains supported on…