bitcoin

Cryptocurrency

US Bitcoin ETFs see eight day run of net outflows

US Bitcoin ETFs (exchange-traded funds) saw their longest run yet of net outflows the other...

Freya Deyell 6 months

Bitcoin price falls as ETFs see record outflows for the week

Radek Zielinski 7 months

Bitcoin ATMs set for another record year of scam activity, FTC warns

Owen Good 7 months

Bitcoins in blue and yellow

El Salvador president still positive on Bitcoin while admitting its slow adoption

Brian-Damien Morgan 7 months

Bitcoin (BTC) options set to expire on Nov. 8, 2024 — the United States election results date — attracted significant investor attention. According to Deribit market data, the cryptocurrency exchange's Bitcoin options are currently betting on an average price of over $60,800 on election day. The open interest for Nov. 8, 2024 is also considerably high — at nearly $374.4 million as of writing. Deribit announced this peculiar kind of options contract back on July 16, 2024, citing client demand as the reason. The company wrote at the time: "The early introduction is aimed at enabling our clients to position themselves effectively for the upcoming 5 November US elections, speculate, hedge, and more." A look into the market According to an Aug. 20 Coindesk report, Call options, which do not limit upside payoff potential but also allow for unlimited loss account for 67% of the open interest. The rest of the volume is constituted by put options — those offer some protection against price drops. Algorithmic trading firm Wintermute said in a note shared with CoinDesk: "These election-dedicated contracts allow investors to capitalize on the increased interest by speculating on how the election might affect the crypto markets in a targeted way. The current put-call ratio of 0.50 indicates a bullish sentiment, with twice as many calls traded as puts." The call option at a strike price of $80,000 is the most popular with over $39 million of open interest. Most of the open interest is concentrated in higher strike call options, from $70,000 to $140,000. Traders are seemingly anticipating new record prices around election time. Wintermute wrote: "The concentration of call options' open interest at strikes around $80K and $100K suggests that market participants are positioning for potential upside in bitcoin, while the presence of puts at lower strike price of $45,000 indicates some level of hedging or downside protection." The report follows the United States Securities and Exchange Commission delaying its decision on whether to approve the trading of options on exchange-traded funds (ETFs) that invest directly in Bitcoin back in March. More recently, the New York Stock Exchange and Nasdaq both withdrew their three requests for permission to list Bitcoin spot ETF-based options. On Aug. 13, NYSE Arca withdrew another requested rule change intended to chart a path toward listing crypto ETF options.

Bitcoin options expiring on Election Day draw $375M from investors

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A digital graph showing Bitcoin's price plummeting against a dark, stormy background

Bitcoin falls under $58,000, but recovers, as worldwide stocks mostly see gains

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Trump’s $1M cryptocurrency ownership revealed amid pro-crypto pledge. A cartoonish illustration of Donald Trump holding a large gold trophy with the number "1,000,000" engraved on it. He stands in front of a futuristic cityscape with various cryptocurrency symbols, such as Bitcoin, floating around him. Trump is depicted with a surprised or shocked expression, and a green glow emanates from his tie, adding a surreal effect to the image. The background includes tall skyscrapers, and there's a dramatic, energetic atmosphere with rays of light radiating behind Trump.

Trump’s $1M cryptocurrency ownership revealed amid pro-crypto pledge

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A shadowy figure in a hoodie typing on a laptop, surrounded by binary code and Bitcoin symbols

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Goldman Sachs filing shows it holds more than $400M in Bitcoin ETFs

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A glowing Bitcoin symbol breaking through a digital barrier, with green candlestick charts rising in the background

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A large whale silhouette diving into a sea of digital binary code, with Bitcoin symbols floating on the surface

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Bitcoin symbol surrounded by gold coins and dollar bills, with the US Capitol in the background

Critics doubt Trump proposal for U.S. Bitcoin strategic reserve

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Stylized illustration of a bear market, with a large bear figure looming over miniature cryptocurrency symbols

Bitcoin price: BTC loses $50,000 in sudden crash, but why?

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Orange high-top sneakers with Bitcoin and American flag motifs

Donald Trump and Bitcoin themed sneakers sold out at $499

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A golden Bitcoin coin balancing on top of a stack of gold bars, with the Federal Reserve building in the background

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A large conference hall with Bitcoin logos and banners, filled with attendees in business attire

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A dramatic graph showing Bitcoin's price plummeting, with red candlesticks against a backdrop of Tokyo's skyline at dawn

Bitcoin and wider crypto market tumbles as global stocks falter

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Abstract representation of the U.S. flag made from binary code and cryptocurrency symbols

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