Bitcoin, record exchanges on spots and institutional derivatives
In the last 24 hours, what has been moving the most and seeing the highs of the period recorded at the end of April is precisely Bitcoin which overshadows the rest of the industry. Bitcoin records more than 2.5 billion dollars in trading this last day, third day with volumes up from levels recorded on April 29 and 30 when volumes rose to 3.5 billion during the day for a total of 7 billion.
Trading on the spot markets is confirmed by the increase in volumes. As for futures traded by the institutional platforms of CME and of Bakkt, not only in terms of futures, but also for trading on the options market, the record for option contracts was recorded yesterday at CME, with 210 contracts worth just under $ 10 million. This is the day when the volume of options trading on the American CME market is the highest, the highest level since the launch of option contracts at the start of the year.
Open interest is also increasing on derivatives on the futures and options markets of CME, which marked a new record yesterday 399 million, surpassing the previous historical record of July 2019. Open interest on Bakkt also marks new heights with total open interest of $ 12 million.
This shows that institutional investors in large positions are approaching third half of Bitcoin history protect yourself from any fluctuations, then analyze in detail what is happening on the derivatives markets, to protect yourself against a possible upward tear in Bitcoin, since 95% of CME options expire in May, so they will end after ” reduce by half. The analysis therefore seems to indicate that there is protection against a possible rise, given that out of 210 contracts traded, 202 are up call and 8 on to put, therefore protection against possible upward extensions.
the volatility of Bitcoin in the past few hours remains at its lowest level since the start of the year, at 3.4% per day on a monthly basis.
The day opens in perfect balance with 50% of the main crypto in positive territory and the rest in parity.
Among the best of the day, there are edge (XVG) with a jump of 25%, followed by 0x (0X) and from aave (LEND), up 18% and 12% respectively.
Aave confirms the trend of the past few weeks, while the 0X movement continues resolutely, with a daily gain of almost 20% to return to the threshold of 25 cents of a dollar, levels which had left on March 8.
Among the big names, stellar (XLM) hovers above par, but in the past few hours, try to consolidate strong upward movement which with recent peaks has almost tripled its value after the sinking in mid-March, going from 0.03 to 0.077 recorded in recent days with an increase of more than 180% and which allows Stellar to find the 11th position among the main capitalized with $ 1.4 billion, to the detriment of cardano (ADA) e screened (LINK) which slides in 12th and 13th position.
On the other side, a full-bodied cuff of Zilliqa (ZIL) which, after sharp increases in the past two days, lost 1%. Same negative performance as DigiByte (DGB). Enjin Coin (ENJ) lost 4%, profits are taken after the excellent performances of the last weeks and which saw ENJ since the lows of mid-March take a leap forward which with yesterday’s highs shows an increase of 300 %, thus going to triple their value in just over a month and a half. Therefore, the benefits taken during these hours are physiological, for Enjin Coin as well as for Zilliqa.
Industry-wide volumes in the past 24 hours have increased by approximately 20%, exceeding $ 135 billionvolumes never seen since early March. Market capitalization supported in particular by the rise in Bitcoin, which gains 3% over 24 hours, returns to 255 billion dollars, close to the highest peaks recorded in April when the 258 billion dollars were almost reached.
Bitcoin dominance increases to 67%, this indicates how Bitcoin is gaining more and more ground, with this increase, the market capitalization exceeds 170 billion dollars. 67% because the market share is a step away from the peaks of the last 3 years registered in September 2019, when the domination of Bitcoin after two years, it found the 69% threshold, so we are one step away from this record. Ethereum, despite the stability of the last hours, remains however below 9% as a domination. Mired at 3.7% ripple.
Bitcoin with the rise of the last hours confirms the Consolidation of $ 9,000 and pushes for the $ 9,500 attack, now at a stage, the highest level that has not been recorded for Bitcoin since the end of last February.
Bitcoin completely cancels the fatal march and reaches the finish line of the third half in a decidedly stretched form. Clouds for Bitcoin would only come with a drop below $ 7800, with levels currently being separated by 15%. What is certain is that halving will also increase volatility in coming weeks which is now at its lowest level in recent months.
Ethereum remains in the bullish channel that started from the March lows. To refer at test the $ 210 thresholdEthereum shows more than any other a mastery of the technical and psychological level of $ 200. A possible breach of this threshold would see the first decisive technical support to maintain this trend at 190 dollars. In the event of a 190 dollar outage, ETH would open a downward phase that has been lacking for more than a month and a half and ends with the lows of mid-March.
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