Delta Crypto Exchange to Expand Into Indian Market With New Funding

Crypto derivatives exchange Delta Exchange has announced a new injection of funding from blockchain investor CoinFund, aiming to provide strategic resources for both parties in their focus to expand in India. According to the announcement, New York-based firm CoinFund looks forward to implementing its first venture investment in India following the recent lifting of the Reserve Bank of India’s ban on banks serving crypto-related firms. Big opportunities in the Indian crypto derivatives market Speaking to Cointelegraph, Alex Felix, managing partner of CoinFund, said: “The crypto market opportunity in India is…

Twitter Bitcoin Mentions Now Almost Exactly Mimic Market Cap Dominance

Bitcoin (BTC) the most mentions on Twitter may seem logical — but the reason behind it may be more calculated than many imagined. According to the latest data, Bitcoin’s popularity on Twitter by the number of tweets is not only the highest of all the cryptocurrencies — it is proportional to market cap. BTC clings to 65% dominance For May 26, Bitcoin tweets numbered 26,778. Tweets including six others — Ether (ETH), XRP, Litecoin (LTC), Tezos (XTZ), EOS (EOS) and Chainlink (LINK) — came to roughly another 13,000. Out of…

Blow to Bitcoin as Latest BofA Survey Finds Loopholes in “Bear Market Rally”

Bitcoin and traditional markets logged a synchronous rally after crashing almost in tandem in March 2020. But the recovery has not impressed a vast majority of global fund managers, according to a survey conducted by the Bank of America. Only 1 out of 10 fund managers believe that the U.S. economy will register a V-shaped recovery, putting cold waters over Bitcoin’s bullish aspects as well. Bitcoin’s breakneck bounce off its March 13 lows transformed into a full-fledged rally, eking up to 161.25 percent gains in just two months. But the…

There’s a 77% Chance Bitcoin Trades Above $9,200 This Week: Market Study

Bitcoin may still be up 135% from March’s lows, but the cryptocurrency’s technical outlook is far from bearish. After peaking at $10,000 multiple times over the past month, showing BTC does not yet have the momentum to clear resistances, the cryptocurrency slid as low as $8,625 on Sunday evening in a move that liquidated approximately $20 million worth of BitMEX longs.  There are many analysts saying that this is a precursor to further losses. One trader, for instance, explained that Bitcoin’s weekly chart has just printed a textbook “tweezers top,”…

Crucial On-Chain Metrics: Bitcoin on the Verge of Its Fourth Macro Bull Market

While Bitcoin has seen its fair shares of rallies and crashes since the 2017 highs of $20,000, the cryptocurrency has not yet entered its fourth macro market cycle. Though a crucial on-chain indicator signals that this is changing. Related Reading: There’s an Unexpected Silver Lining to J.K. Rowling’s Bitcoin Tirade Bitcoin on Verge of Its Third Macro Bull Market Crypto analytics firm Glassnode noted on May 18th that the Puell Multiple — the USD value of BTC issued per day over the one-year moving average of that same metric —…

Bitcoin Options Market Data Shows Mere 9% Chance BTC Reaches $20K in 2020

The Bitcoin (BTC) options market, which is mostly dominated by Deribit and CME, gives a 9% chance for BTC to rise to it’s all-time high at $20,000 by the end of 2020. Given the tendency of Bitcoin to see a prolonged rally six to eight months after a halving is activated, traders in the options market are relatively cautious about the medium-term trend of BTC. Data shows the BTC options market is tilted towards bulls In the near-term, many traders on both Deribit and CME are seemingly optimistic on the…

CZ Calls Africa an ‘Untapped Market’ With Unique Challenges for Crypto

Binance founder and CEO Changpeng Zhao, otherwise known as CZ, believes that the African continent holds some unique opportunities for cryptocurrency adoption and development. The Binance leader provided a number of interesting insights during an exclusive “ask me anything” session hosted on Zoom for key members of the African cryptocurrency community, which Cointelegraph participated in. Binance, which has established itself as the world’s largest cryptocurrency exchange by trade volume, has slowly been opening up satellite trading platforms in a number of African countries. Uganda was the first country to welcome…

Enterprise Blockchain Market Will Hit $21.07 Billion By 2025, Says Fortune Business Insights

A new study from Fortune Business Insights, a company offering market studies and consulting services, estimates the blockchain technology market will reach $21 Billion by 2025, according to GlobeNewswire’s report on May 12.  It stated that:  “The blockchain technology market size stood at USD 1.64 billion in 2017, and is projected to reach USD 21.07 billion by the end of 2025 […] exhibiting a CAGR of 38.4% during 2018-2025.” Reasons behind the expansion The main reason for the growth of the global blockchain technology market, according to the Fortune Business Insights…

Bitcoin Price Rejected At Bear Market Supply Zone, Rally To Resume After Retest of Demand

After the powerful rally unfolding across the crypto market over the last several weeks, Bitcoin price failed to breach cleanly above $10,000 and hold. The move pushed the first-ever cryptocurrency into a supply zone dating back to the start of the bear market where it was rejected. The failure will likely result in Bitcoin price returning to one of three demand zones, where the asset will confirm buyer interest before proceeding on a new post-halving bull run. Bitcoin Price Reaches Bear Market Supply Zone, Can It Finally Get Through? Bitcoin’s…

The Market Perceives Positive Sentiment Heading Into the 2020 Bitcoin Halving

As Bitcoin (BTC) fast approaches its scheduled third halving, several metrics are now pointing toward positive market sentiment going into this most-anticipated event. The perpetual funding rate turns to positive territory, suggesting a positive market sentiment The perpetual funding rate serves as a useful indicator to gauge overall market sentiment. When the rate is positive, long positions periodically pay short positions and vice versa. Funding rates also tend to correlate with market sentiment, meaning that when the market is strongly bullish or bearish, funding rates tend to be positive or…