Decentralized App BCH Bull Prepares for Launch, Platform Allows Users to Long or Hedge Bitcoin Cash Against a Myriad of Tradeable Assets

Just recently the developers behind the Bitcoin Cash-centric project Anyhedge released the alpha version of the Anyhedge Whitelabel and since then, 284 smart contracts were created onchain, and more than $32,900 in funds hedged using the alpha protocol. Furthermore, this month, General Protocols, the engineers behind Anyhedge, revealed the team plans to launch a decentralized application (dapp) on the Bitcoin Cash blockchain that allows anyone to long bitcoin cash against a myriad of tradeable assets. General Protocols to Launch a Decentralized Application That Allows Users to Hedge or Long Bitcoin…

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Bitcoin price falls under $19K as data shows pro traders avoiding leverage longs

An $860 surprise price correction on Sept. 6 took Bitcoin (BTC) from $19,820 to $18,960 in less than two hours. The movement caused $74 million in Bitcoin futures liquidations at derivatives exchanges, the largest in almost three weeks. The current $18,733 level is the lowest since July 13 and marks a 24% correction from the rally to $25,000 on Aug. 15. Bitcoin/USD 30-min price. Source: TradingView It is worth highlighting that a 2% pump toward $20,200 happened in the early hours of Sept. 6, but the move was quickly subdued…

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Bitcoin traders anticipate new yearly lows after BTC’s $25K rejection — Data disagrees

Bitcoin (BTC) showed weakness on Aug. 15, posting a 5% loss after testing the $25,000 resistance. The move liquidated over $150 million worth of leverage long positions and has led some traders to predict a move back toward the yearly low in the $18,000 range. The price action coincided with worsening conditions for tech stocks, including Chinese giant Tencent, which is expected to post its first-ever quarterly revenue decline. According to analysts, the Chinese gaming and social media conglomerate is expected to post quarterly earnings around $19.5 billion, which is…

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2 metrics signal the $1.1T crypto market cap resistance will hold

Cryptocurrencies have failed to break the $1.1 trillion market capitalization resistance, which has been holding strong for the past 54 days. The two leading coins held back the market as Bitcoin (BTC) lost 2.5% and Ether (ETH) retraced 1% over the past seven days, but a handful of altcoins presented a robust rally. Crypto markets’ aggregate capitalization declined 1% to $1.07 trillion between July 29 and Aug. 5. The market was negatively impacted by reports on Aug. 4 that the U.S. Securities and Exchange Commission (SEC) is investigating every U.S.…

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Bitcoin derivatives show a lack of confidence from bulls

Bitcoin (BTC) has been trending up since mid-July, although the current ascending channel formation holds $21,100 support. This pattern has been holding for 45 days and could potentially drive BTC towards $26,000 by late August. Bitcoin/USD 12-hour price. Source: TradingView According to Bitcoin derivatives data, investors are pricing higher odds of a downturn, but recent improvements in global economic perspective might take the bears by surprise. The correlation to traditional assets is the main source of investors’ distrust, especially when pricing in recession risks and tensions between the United States…

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Ethereum’s spot setup looks grim, but derivatives data tells a different story

[ad_1] Ether (ETH) price fell below the $3,000 support on Sept. 20 as global markets entered a risk-aversion mode. The Invesco China Technology ETF (CQQQ) closed down 4.2%, while the SPDR S&P Metals and Mining ETF (XME) lost 3.8%. Some analysts pointed to the potential ripple effects of the default of Evergrande, a major Chinese real estate company. In contrast, others blame the ongoing debates over the debt limit in Washington as the catalyst for this week’s volatility. As a result, the CBOE Volatility Index (VIX), usually referred to as…

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Derivatives data shows Ethereum traders positioned to extend the ETH rally

[ad_1] Ether (ETH) price rallied 32% leading up to August 23, and despite testing the $3,000 support multiple times, the level has held firmly. Meanwhile, Bitcoin (BTC) could not sustain the $50,000 mark, at least in the short-term. According to Cointelegraph, pro traders are not yet inclined to add bullish positions according to derivatives metrics. Surprisingly, the opposite situation emerges when looking at the sentiment of Ether traders who currently show a reasonable degree of confidence in the current price level. Regulatory pressure and spectacular NFT growth back traders confidence…

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Traders forecast $3K Ethereum price but derivatives data suggests otherwise

[ad_1] Ether (ETH) rallied 35% over the past ten days and reclaimed the critical $2,300 support, but the crucial $2,450 local top hasn’t been tested since June 17. Part of the recent recovery can be attributed to the London hard fork, which is expected to go live on Aug. 4.  Traders and investors view the EIP-1559 launch as a bullish factor for Ether price because it is expected to reduce gas fees. However, Ether miners are not thrilled with the proposal because the proof-of-work model will no longer be necessary…

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3 things every crypto trader should know about derivatives exchanges

[ad_1] In the past two years futures contracts have become widely popular among cryptocurrency traders and this became more evident as the total open interest on derivatives more than doubled in three months. Additional proof of their popularity came as futures turnover surpassed gold, which is a well-established market with $107 billion in daily volume. However, each exchange has its own orderbook, index calculation, leverage limits and rules for cross and isolated margin. These differences might seem superficial at first, but they can make a huge difference depending a traders’…

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