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Market analysts weigh in on an intriguing ‘flippening’, as Bitcoin futures open interest on global derivatives marketplace CME overtakes Binance. Binance’s dominance of Bitcoin futures open interest has been toppled by traditional derivatives market place heavyweight Chicago Mercantile Exchange (CME), following Bitcoin’s first move past the $37,000 mark in over 18 months. A number of analysts highlighted the ‘flippening’ of Binance by CME, with the latter overtaking the global cryptocurrency exchange for the largest share of Bitcoin futures open interest. Wow, the real flippening that no one is talking about: CME just flipped Binance for the largest share of Bitcoin futures open interest . Bittersweet -- there will soon be more suits than hoodies here. (h/t @VidiellaLaura) pic.twitter.com/SIPRLMlFcy — Will (@WClementeIII) November 9, 2023 Open interest is a concept commonly used in futures and options markets to measure the total number of outstanding contracts. The metric repre...

The SEC is reportedly close to approving the first Ether futures - based ETFs, signaling a potential shift in stance on cryptocurrency regulations. The U.S. Securities and Exchange Commission (SEC) is nearing approval of the first exchange-traded funds (ETFs) based on Ether futures, as sources told Bloomberg. Numerous firms, including Volatility Shares, Bitwise, Roundhill, and ProShares, have submitted the required documentation, signaling readiness for ETF trading. You might also like: Valkyrie submits application for Ether futures ETF  Though the details of approved investments are still unknown, insiders hint at potential approvals coming as early as October. Ether, Ethereum’s native token and the world’s second-largest digital asset after Bitcoin, is central to these discussions. Tension with Bitcoin ETF The SEC’s hesitancy towards Bitcoin-linked ETFs persists. A notable case includes Grayscale Investments’ attempt to convert its Bitcoin ...

Coinbase has received regulatory approval from the National Futures Association [ NFA ] to offer crypto futures trading to eligible U.S. customers. Alongside, it has also received the green light to operate a Futures Commission Merchant [FCM]. $COIN – Coinbase Gets NFA Approval to Offer Crypto Futures — WSJ — *Walter Bloomberg (@DeItaone) August 16, 2023 The latest development allegedly makes Coinbase the first crypto platform to directly offer traditional spot crypto trading along with regulated and leveraged crypto futures. In a recently shared blog-post, Greg Tusar, the Head of Institutional Product at Coinbase, said that this served as a “critical milestone” and reaffirmed the company’s commitment to operate a regulated and compliant business. In effect, it puts Coinbase on the path to being the most secure crypto platform for customers. Also Read: Coinbase: ‘Fresh’ Whale Wallets Created in 2023 Drive Activity on Base ...

Bitcoin price has been showing weakness near the $30,000 level, but multiple data points highlight the fact that bears remain at a disadvantage. Bitcoin (BTC) price gave back some of its recent gains this week, but multiple data points suggest that $30,000 should hold as support going forward. Bitcoin remained within a narrow 4.3% range for the 15 days leading up to July 7. Despite the proximity of the $29,895 to $31,165 range, investors' sentiment was significantly impacted by an unsuccessful attempt to break above $31,400 on July 6. Trader’s tendency to overreact to short-term price movements rather than Bitcoin's year-to-date gains of 82% could be part of the reason for the short-term correction This same rationale applies to the events related to other cryptocurrencies. At the front of investors' minds are questions about whether the recent price gains were solely driven by multiple spot Bitcoin exchange-traded fund (ETF) requests. Other pressing developments inclu...

Investors are unwilling to add long positions as the Shanghai Fork is expected to unlock a significant amount of ETH over a short period. The price of Ether (ETH) declined 6% between March 2-3, followed by a tight range trading near $1,560. Still, analyzing a wider time frame provides no clear trend, as its chart can point to a descending channel or a slightly longer seven-week bullish pattern. Ether (ETH) price index in USD, 1-day. Source: TradingView Ether's recent lack of volatility can be partially explained by the upcoming Shanghai hard fork, an implementation aimed at allowing ETH staking withdrawals. Those participants were each required to lock 32 ETH staked on the Beacon Chain to support the network consensus protocol. After a series of delays, typical for changes in the production environment, the Shanghai Capella upgrade — also known as Shapella — is expected for early April, according to Ethereum core developer and project coordinator Tim Beiko. The Goerli testnet upgr...

ETH price continues to encounter resistance at the $1,600 level, a potential sign that the current rally lacks sustainable momentum. Ethereum (ETH) price is struggling to overcome resistance at $1,600 and this is the altcoin’s third attempt since September 2022. Some would say the 33% year-to-date rally could be interpreted as a failed opportunity to breach the $200 billion market capitalization mark.  Ether/USD price index, 2-day. Source: TradingView If Ethereum price were to break above $1,600, it would return Ether to a top-60 global tradable asset, surpassing giant multinational companies like Nike (NKE), Novartis (NVS), Cisco (CSCO) and Toyota (TM). Unfortunately, at least for bullish traders, derivatives markets are not hinting that Ether will finally break the $1,600 resistance — at least, not until the U.S. Federal Reserve reverses its course of tightening the economy. Bulls' frustrations can partially be explained by Silvergate Bank's $1 billion net loss in the latest...