Cryptocurrency Analysis and News Portal
(Edited by James Rubin and Greg Ahlstrand)Good morning. Here’s what’s happening:Market moves: Bitcoin slumps below $48,000, as December’s options expiration nearsTechnician’s take (Editor’s note): Technician’s Take is taking a hiatus for the holidays. In its place, First Mover Asia is publishing CoinDesk reporter Sanadali Handagama’s interview with European Parliament member
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The CEO of digital assets financial services firm Eqonex is to step down as the company holds talks on a potential merger or takeover.CEO Richard Byworth will step down with immediate effect and be replaced with chief operating officer Andrew Eldon on an interim basis, Eqonex announced Monday.Eqonex is“engaged in
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BTC is roughly flat over the past week, compared with a 1% drop in ether (ETH), a 5% rise in Solana’s SOL token, and a 38% rise in Avalanche’s AVAX token over the same period. The wide dispersion in crypto returns this week suggests that investor appetite for risk remains
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Bitcoin (BTC) bulls are still licking their wounds from the bloody Dec. 4 correction, which saw the price collapse from $57,000 all the way to $42,000. This 26.5% downside move caused $850 million in long BTC futures contracts to be liquidated, but more importantly, it shifted the “Fear and Greed
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“There might be equity funds that have an exposure to a stock that has underlying bitcoin holdings,” explained Kazantsev. “In order to hedge that exposure, they might trade futures against that. For them, rather than rebalancing the portfolio dynamically, what they really want to do is hedge for the longer
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For traders who are undecided on Bitcoin's (BTC) move, the "long condor with call options," or the "iron condor" options strategy, yields optimal results with very low risk. This strategy offers protection down to $53,500, which would be a 7% downside move from the current $57,600, and returns a positive
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Ether (ETH) investors have no reason to complain after the 344% gains accumulated in 2021 until Nov. 24. Still, analysts fear that the $4,000 resistance test on Nov. 19 is forming a descending channel that aims at $3,600 by mid-December, an 18% correction from the current $4,400 price.Despite outperforming Bitcoin
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Bitcoin’s (BTC) price action hasn’t been bullish despite the $69,000 all-time high on Nov. 10. Some argue that th descending channel formed 40 days ago is the dominant trend, and $56,000 marks its current resistance.BTC/USD price on FTX. Source: TradingViewSuch bearishness follows scrutiny from United States regulators, after a Nov.
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Bitcoin put options, derivatives offering downside protection, continue to become pricier, implying bearish sentiment. The price volatility may rise as major exchanges, including Deribit, are due to settle monthly options on Friday.The three-month put-call skew, which measures the cost of puts relative to calls, has turned positive, hit a 6-week
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Decentralized finance (DeFi) is fast becoming a preferred avenue to hedge smaller cryptocurrencies beyond bitcoin (BTC) and ether (ETH), as leading centralized derivative exchanges like the Chicago Mercantile Exchange and Deribit remain fixated on the two market leaders.Singapore-based QCP Capital, an early investor in the dominant centralized crypto options exchange
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