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Bitcoin Fails at Key Price Hurdle, Risks Return to $8,000

Bitcoin is facing further losses after the bulls failed to capitalize on price gains seen this week. The cryptocurrency’s quick pullback from a 2.5-week high of $8,830 to below $8,400 this morning has invalidated a bullish breakout on the 4-hour chart seen Wednesday, as seen below. 4-hour chart The failure to hold above the 200-day moving average (MA) at $8,654 has also weakened the bullish outlook on the daily chart and may have shifted risk in favor …

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Coinbase Pro Is Increasing Its Fees – And Users Aren’t Happy

Coinbase Pro – the cryptocurrency exchange’s platform for professional and institutional traders – is set to increase its fees from early next week. On Oct. 7 at 22:00 UTC, Coinbase will usher in higher rates for new tiers of accounts transacting under $10,000, and between $10,000 and $50,000, according to a company blog post on Thursday. The new rates are as follows: Currently, all accounts trading under $100,000 are charged 0.25 percent (takers) and 0.15 percent …

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Coinbase Reinstates UK Bank Deposits and Withdrawals

Coinbase has reinstated U.K. bank deposits and withdrawals following a months-long banking holdup. As announced by the company’s U.K. arm in a blog post Thursday, British pound (GBP) deposits and transfers are available once again for local Coinbase customers. GBP denominated transactions were paused following the exchange’s July breakup with Barclays. However, a new partnership with ClearBank, first reported by CoinDesk in August, cleared the way once more for GBP support. The bank is a member of …

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Trading Volume for Bakkt’s Bitcoin Futures Hit Just $5 Million in First Week

The Intercontinental Exchange’s highly anticipated bitcoin futures contract mustered just $5 million of total trading – and its daily product traded fewer than five contracts across its first week. According to the exchange’s Bakkt division, set up last year by the Atlanta-based company as a new marketplace for digital assets, some 623 monthly bitcoin futures contracts changed hands last week. Both the monthly and daily contracts debuted on Sept. 23. Each of Bakkt’s futures contracts …

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Ether Outshines Bitcoin in a Gloomy Month for Crypto Prices

September has been a rough month for bitcoin and the wider cryptocurrency market, but ether has weathered the storm better than most. Bitcoin, (BTC), the leading cryptocurrency by market value, is on track to post a monthly loss of more than 16 percent – the biggest since November 2018, according to CoinMarketCap. As of writing, BTC is trading around $8,070, having hit a 3.5-month low of $7,838 earlier today. Meanwhile, the total market capitalization of …

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Bitcoin Approaching Biggest Weekly Price Loss of 2019

View Bitcoin is on track to post its biggest weekly loss of 2019, having found acceptance below key support for the first time in nearly six months. The top cryptocurrency by market value is currently trading at $8,030 on Bitstamp, representing a 20 percent drop from this week’s (Monday’s) opening price of $10,022. That is the biggest weekly loss of 2019 assuming prices remain at similar levels until Sunday’s UTC close. The biggest loss of …

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How Leverage Can Help With Bitcoin’s Price Discovery

Bitcoin (BTC) is like any other asset class in that it captures value through organic price discovery conducted via trading activity on global exchanges. Yet leverage and margin trading, in general, can help “turbo-charge” demand for an asset. They can also free up capital, thus increasing liquidity within a given market as traders look to use their capital elsewhere. It’s an investment strategy of using borrowed money for the use of various financial tools to …

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Top 10 Alternative Cryptocurrencies Hit 6 Month Lows

Nearly all top 10 alternative cryptocurrencies by Market Capitalization have hit their respective 6-month lows after bitcoin’s rapid price slide dragged the rest of the markets into the red on Tuesday. Litecoin (LTC), EOS (EOS), Binance Coin (BNB), and Stellar (XLM) dropped to their lowest point in over 6-months shortly after BTC’s major sell-off forced traders to exit the market in quick succession. XRP (XRP) stands as the outlier on the week after hitting a 658-day …

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Kleiner Perkins Backs $2 Million Seed Round for Crypto Derivative Data Firm

Cryptocurrency data analytics startup Skew has raised $2 million in seed funding from several venture capital firms, including Silicon Valley icon Kleiner Perkins. Announced Wednesday, the seed round was led by London-based FirstMinute Capital, with participation from Seedcamp, Kima Ventures and QCP Capital. The company declined to disclose its valuation. The company’s skewAnalytics service, launched concurrently with the raise announcement, provides a real-time overview of crypto derivatives markets with more than 100 charts on crypto …

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Bakkt Is Finally Launching Its Bitcoin Futures Today. Here’s What to Expect

Bakkt is finally here. After two delays and 13 months of questions, the Intercontinental Exchange-backed bitcoin warehouse and futures contract facilitator is launching Monday, opening the door for institutional investors to take positions on the cryptocurrency in a federally regulated venue. Trading is set to open at midnight UTC and close at 22:00. For the first time, interested observers will be able to see just how much pent-up demand there is among big-money traders for …

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