Deribit Takes On New Trading Tools to Capture ‘Exploding’ Options Market

Amid increasing activity within the crypto derivatives market, software maker Trading Technologies (TT) announced Wednesday it would provide trading tools to users of leading crypto exchange, Deribit. Included in the suite are advanced order types, charting and analytics as well as access to a feature allowing users to create algorithms for bot trading. TT users eligible to trade on Deribit will be able to access all listed products, including bitcoin (BTC) and ether (ETH) futures, perpetual and options contracts. Dutch-based (for another month) Deribit, founded in 2016, is now the…

Bull Breather? Bitcoin Market Turns Indecisive at Two-Month High

The bitcoin market is telling a tale of bullish exhaustion with indecisive price action following a rise to the highest point since November. The top cryptocurrency witnessed two-way business on Wednesday. Prices rose from lows near $8,550 seen during the Asian trading hours to a two-month high of $8,903, only to end the day (UTC) on a flat note at $8,808, according to CoinDesk’s Bitcoin Price Index. Essentially, bitcoin created a “doji” candle, which is widely considered a sign of indecision in the marketplace. In this case, however, the candle…

Traders Turn to DeFi to Capitalize on Tuesday’s Crypto Market Spike

Decentralized finance (DeFi) applications are popping off Tuesday, and the ETH price spike isn’t the whole story. As of this writing, ETH is up around $20 since Monday. “Cryptocurrencies are still pretty correlated so with some of the developments around Craig Wright and BSV, that ended up moving the entire market,” Paul Veradittakit, of Pantera Capital, told CoinDesk in an email. Bitcoin SV is the fourth-biggest cryptocurrency by market capitalization, according to CoinMarketCap. It shot up 117 percent over the past 24 hours, according to CoinDesk’s BSV Price Index. Since ETH…

These 4 Factors Suggest the Altcoin Crypto Market Rally is Only Just Beginning

The Altcoin Index Perpetual Futures broke out of a major resistance level in the past week, which may indicate that due to the strong momentum in the crypto market, major altcoins are in a prime position to sustain their upward movement. $ALT perp:Breakout ✅Retest ✅Consolidation ✅Continuation ✅ pic.twitter.com/V3Q3Kv9fwy — The Crypto Monk ⛩ (@thecryptomonk) January 14, 2020 After breaking out of the resistance level the first time, it corrected to retest the level, consolidated, and cleanly broke out of the resistance level. These four factors, which can be considered as…

Bitfinex Market Manipulation Lawsuit Refiled in New York and Joined by Second Case

An Oct. 10 class-action lawsuit filed against iFinex Inc., the parent company of Bitfinex and Tether, was refiled on Jan. 8 in New York’s Southern District. The lawsuit by Young et al. was followed on the next day by a similar class-action filing by Bryan Faubus. The original lawsuit alleges that iFinex manipulated the cryptocurrency market in 2017 by issuing unbacked Tether (USDT) that was then sold for Bitcoin to increase its price. Plaintiffs argue that the common belief that each USDT represented one real dollar led traders to eagerly…

A Lawsuit Alleging Tether and Bitfinex Manipulated the Bitcoin Market Has Been Dropped

A class-action lawsuit alleging Tether and Bitfinex manipulated the bitcoin market has been withdrawn by the plaintiffs. A document filed Jan. 7 in the Western District of Washington shows plaintiffs Eric Young and Adam Kurtz have opted for voluntary dismissal in their case against Tether and Bitfinex’s parent firm iFinex. The case was originally filed on Nov. 22, 2019. The plaintiffs, who both claimed to be bitcoin traders, alleged that Bitfinex and Tether issued inaccurate information and “monopolized and conspired to monopolize the Bitcoin market”. Drawing heavily on the case…

‘Cryptocultists’ May Stop Bitcoin Bull Market — Trader Who Called $20K

Bitcoin (BTC) returning to a bull market depends on whether “cryptocultists” have already exited the market, veteran trader Peter Brandt has warned. In a tweet on Jan. 8, Brandt, who has become a regular Bitcoin pundit in recent years, confirmed he was eyeing current price activity to determine the likely next move. Brandt: Bitcoin needs “cryptocultist shakeout” BTC/USD gained 5.5% in the 24 hours to press time, retaking $8,000 in a move many previously considered highly unlikely.  Whether momentum continues, Brandt says, is nonetheless down to the composition of the…

4 Signs the Cryptocurrency Altcoin Market May Have Finally Bottomed

Bitcoin (BTC) made a sudden jump of 9% in the past 24 hours. However, altcoin cryptocurrencies have been showing strength recently as well. Recent surges from large caps have been in the double digits with Dash (DASH) surging 50% and Bitcoin Cash (BCH) 30% in the past four days. Is it possible to draw a conclusion that the altcoin market capitalization is potentially bottoming? Let’s find out. Crypto market daily performance. Source: Coin360 Altcoins retraced to their cycle lows Many altcoins have reached their cycle low levels, which means that…

Why Fears of Correction Still Dominate the Bitcoin Market Despite Big Rally

Bitcoin staged a sharp price rally this Tuesday as speculators continued to assess the likelihood of a full-blown military conflict between the US and Iran. The benchmark cryptocurrency established a seven-week high of $8,000 on Coinbase, its best level in seven-weeks. The move upside brought its weekly gains up by 10.27 percent. The bitcoin futures trade, too, noted moves towards $8,100 after the price rally in the spot market. It might be time to get out of Bitcoin’s way. — The Wolf Of All Streets (@scottmelker) January 6, 2020 Fundamentals…

Bitcoin Flashes Wyckoff ‘Sign of Strength’ Hinting at New Bull Market

Bitcoin (BTC) may have just signaled its return to a bull market, according to fresh analysis using a century-old price prediction method. In a tweet on Jan. 7, ex-Goldman Sachs analyst Murad Mahmudov channeled the work of Richard Wyckoff to suggest Bitcoin was in the process of a major recovery.  BTC puts in Wyckoff “SOS” BTC/USD cracked resistance at $7,600 on Monday, surprising punters who considered the levels too difficult to pass under current conditions. At press time, the pair traded at $7,875, having reached $7,980 and gaining 5% on…