Skip to main content

##Bitcoin futures hit highest volume since Black Thursday



Free Crypto Mobile Signals App -

https://play.google.com/store/apps/details?id=com.freecryptosignals.app

              Visit - https://t.me/s/cryptosignalalert

For more latest update news on Cryptocurrency, Free Crypto signals on Telegram & Bitcoin Binance automated trading BOT visit above given Telegram channel

The Bitcoin futures market roared yesterday, correlating with positive price action that had Bitcoin break past $9,000 per coin.


In brief
The Bitcoin’s futures market had its best day yesterday since Black Thursday’s historic crash, netting $30 billion in volume.

The price of Bitcoin briefly peaked above $9,000.
Spot volume clocked in at a fourth of futures volume.


The Bitcoin futures market had its busiest day on Wednesday since the historic Black Thursday market crash in mid-March.

 Per data from crypto market analytics firm Skew, April 29 futures trading surged to just over $30 billion. This is roughly 40% shy of the $50 billion in volume the Bitcoin’s futures market saw on March 12 when Bitcoin’s price plummeted alongside a macro market selloff. 


Of course, the price is going the opposite way on this go around. The futures volume surge is on the back of (or more rightly, has been the legs for) a 13% green daily candle that threw Bitcoin’s price from $7,600 for a daily close of $8,750. Bitcoin peaked yesterday above $9,000 per coin, briefly hitting nearly $9,422.
Crypto exchanges Bitfinex, Binance and Huobi enjoyed the most volume, netting $23.2 billion between themselves alone. Bitmex, once the undisputed leader in the futures market, saw only $5.3 billion in volume, as its dominance continues to wane post Black Thursday.

Total open interest in the Bitcoin futures market (i.e. how many trades are still open) has climbed back above $2 billion. The futures market topped an all-time high of $5 billion in open interest on February 12, only to have it crater to $1.8 billion a month later.
This impressive rally coincided with positive price action for oil, major stock indices and other major assets. Meanwhile, 3.8 million more

Speaking of the little guys, they may have had a hand in this rally, as well. According to data from Messari, Bitcoin’s total spot volume, a reliable metric to measure retail investor interest, has seen nearly $7 billion in volume over the past two days.

 At the moment, Bitcoin has slid to just below $8,800 and is down 1 percent in the last 24 hours. 






Labels:

Comments

Post a Comment

Popular posts from this blog

##How this phase of coronavirus can make you rich in Bitcoin Trading?

                                Visit - https://t.me/cryptosignalalert Visit - https://play.google.com/store/apps/details?id=com.freecryptosignals.app Coronavirus has shock the entire world. Coronavirus has created a temporary fear amongst the investors. As expert have rightly pointed out, fear is the time to get in the market. But which coin will you trade to make huge profit instantly out of these market. We have revealed 3 coins that is going to breakout soon in our Free Crypto Signal Community  - https://t.me/cryptosignalalert Visit our Mobile App link and start trading from your mobile -  https://play.google.com/store/apps/details?id=com.freecryptosignals.app   We have reveal the best strategy to make profit from Crypto Trading. The best part is these are free. You can use our Crypto Bot to trade from your mobile.
Post a Comment
Read more

##Andreessen Horowitz to Launch New $450 Mln Cryptocurrency Fund

Free Crypto Signals Mobile APP - https://play.google.com/store/apps/details?id=com.freecryptosignals.app              Visit - https://t.me/cryptosignalalert For more news latest update on Cryptocurrency,Free crypto signals & Bitcoin Binance automated trading BOT which trades automatically in your account visit above given Telegram Venture capital behemoth Andreessen Horowitz is set to launch another fund that is solely dedicated to investing in the cryptocurrency industry, according to The Financial Times.   a16z will reportedly raise $450 mln for its second crypto fund, but it is yet to determine its maximum size A major crypto bet  Andreessen Horowitz launched its first dedicated fund for cryptocurrency investors back in 2018. It collected $350 mln to spend all this money on everything crypto -- from startups and obscure coins to Bitcoin (BTC). The holding period of the VC shop can stretch to a whol...
Post a Comment
Read more

##Bitcoin dominance over crypto market spikes to 2017 levels

Free Crypto Mobile Signals App - https://play.google.com/store/apps/details?id=com.freecryptosignals.app               Visit - https://t.me/s/cryptosignalalert For more latest update news on Cryptocurrency, Free Crypto signals on Telegram & Bitcoin Binance automated trading BOT visit above given Telegram channel With the Bitcoin halving fast approaching, the king of crypto has fully recovered from the Black Thursday market crash and regained its throne In Brief Bitcoin is close to achieving the same market dominance that it reached following the 2017 bull run. It demonstrates a rising interest in Bitcoin over altcoin competitors. Bullish sentiment due to recent performance ahead of the Bitcoin halving could be partly Bitcoin is once again silencing its critics, skyrocketing up the price charts, and smashing altcoins in its wake. According to data shared by Messari researcher Ryan Watkins, Bitcoin is close ...
Post a Comment
Read more