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Bitcoin Futures Volume Breaks Records on CME

Chicago Mercantile Exchange smashed records recently with its Bitcoin futures in both volume and open interest. In a new report, CME group reveals that in May, the firm showed massive growth with 223 new trading accounts. This makes is the most successful month for Bitcoin futures product since launching in December 2017. The average daily volume ended at 13,777 contracts for the month - or about $515 million in notional USD-traded value. This is up 36 percent since April and 250 percent annually. Fundstrat’s head of research, Tom Lee has said: “This is very bullish as the rise in Bitcoin...

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Bitcoin’s Surge to $8k Could be Resulting in Bearish Pattern?

Earlier this week, Bitcoin was able to find a level of resistance when it finally made waves past the $8k mark once again. This is a big indicator that the Bitcoin bulls aren’t yet ready to hide away leaving many investors asking whether this means further gains are on the cards? We can’t give you a sure answer on this (no one can!) but it does look likely. Some analysts are eager to highlight that Bitcoin does appear to be forming a notorious ‘head & shoulders’ formation that might favour the crypto bears. Bitcoin Hits $8k Once More Over a...

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Sally Ho's Technical Analysis 14 June 2019

Bitcoin Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair fell to the 8192.11 area after trading as high as the 8329.99 area late in yesterday’s North American session.  Yesterday’s high print was the pair’s strongest showing since 3 June and was just below the 8338.78 area, a level we have focused on for a long time that represents the 76.4% retracement of the move from 9948.12 to 3128.89.  Stops were again elected above the 8184.48 area during yesterday’s European session, representing the 200-day MA (4-hourly).BTC/USD’s renewed resurgence above the 8,000 area again has traders speculating there may...

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Dollar Currency Index (DXY) Points To Bleak Bitcoin (BTC) Outlook Long Term

Bitcoin (BTC) has had a good run these past few months and we are yet to see it come to an end. The parabolic path that BTC/USD set out on has yet to be broken and it is still very likely that we might see Bitcoin (BTC) rise past $9,000 and rally all the way towards $10,000 in the weeks ahead. However, the US Dollar Currency Index (DXY) has signs for those that are willing to take a step back and see the big picture. Recently, Paul Tudor Jones whom I and many others consider to be one of the...

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Is BTC Maturing As Regulation Grows?

When Bitcoin came into existence ten years ago, it was a symbol of resistance against authoritative bodies, a rebel-like currency with anonymous transactions and lack of regulation. Around a decade later there are growing signs that it is making ground in the thing it once focused on escaping, government. The cryptocurrency saw a massive surge in value at the end of 2017 as it made gains to the $20,000. With this, bigger investors have an increased interest in the space. By buying into Bitcoin futures to gain exposure to the asset, while avoiding the hacks and negative things the space...

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