Pro traders buy the Bitcoin price dip while retail investors chase altcoins

Pro traders buy the Bitcoin price dip while retail investors chase altcoins

Data shows pro traders are heavily accumulating the current dip in Bitcoin price while retail investors are occupied with trading altcoins. Bitcoin (BTC) has been struggling to sustain the $55,000 support level for the past 16 days, or basically since the April 17 record-high $5-billion long contracts liquidation. The rejection that took place after the $64,900 all-time high had a devastating impact on the sentiment of retail traders, as measured by the significant drop…

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CME’s Futures Options Sprinted Out of the Gate but a Marathon Lies Ahead

CME launched its first Bitcoin options product, but is its initial success a matter of good timing? In the two years since it launched cash-settled Bitcoin futures, CME has firmly established itself as a leader in the regulated crypto derivatives space despite not always being the first to market. In December 2017, it launched regulated Bitcoin futures a week after rival exchange CBOE. However, it only took 15 months for CBOE to completely withdraw from the market. By…

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Former Bakkt CEO and New US Senator Loeffler Will Help Oversee CFTC

Former Bakkt CEO and New US Senator Loeffler Will Help Oversee CFTC

Former Bakkt CEO and Georgia’s new Senator Kelly Loeffler will help oversee major financial regulator responsible for commodities trading — including BTC. Former Bakkt CEO and Georgia’s new Senator Kelly Loeffler will help oversee major financial regulator, the Commodity Futures Trading Commission (CFTC).Sworn into the United States Senate on Jan. 6, the crypto-friendly businesswoman has joined the Senate Agriculture Committee, which oversees the CFTC. The news was first reported by farm and policy publication…

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