Inside Blockchain News Today

Risk on or risk off? The next stage As expected, risk off tone dominated the price action as market participants reacted to the news of an aggressive spread of a new strain of coronavirus out of the UK, as well as further tensions between the EU and the UK ahead of the Brexit deadline.  As a result, GBP was hit hard across the board at the open, which when combined with EUR weakness that stemmed from uncertain macro impact, led to USD strength. This strength in turn caused mar...

Macro matters Out of control Macro matters are very much back in focus as the European nations have begun to impose travel bans on the UK after it reported a more-infectious and “out of control” coronavirus variant. The BBC reported that Ireland, Germany, France, Italy, the Netherlands and Belgium are all halting flights. The measures vary and are initially short-term but the French rules also affect Channel freight.  In addition, it was reported citing sources that there ...

Relentless No stopping us now The relentless surge higher continued and at one point, Bitcoin was trading just $200 away from $24,000 level. Astounding, considering that it only broke through the $20,000 the day before. The open interest (OI) continued to tick higher and the CME reclaimed second spot on the leader board, with OKEx leading the pack higher.  Equally, the OI across other majors remained strong and large cap assets generally fared better relative to small and mid-...

Breaking the barrier Monkey of the back Bitcoin finally pierced its way through the key $20,000 level and more important for the longevity of the uptrend, the break did not result in an aggressive trigger of stops. Instead, the break was well managed and steady. The subsequent price action was equally steady, even if somewhat one directional and by early Thursday morning, Bitcoin was trading just shy of $23,000 level.  As expected, the open interest (OI) surged to a new record...

Record highs Road to 20k The relentless appetite for risk drove the market higher yet again and with that, aggregate Bitcoin futures open interest (OI) advanced to a new record high. Interestingly, the CME has lost some ground to the likes of OKEx and Binance, although the OI still remains above $1 billion.  Nevertheless, with the contango structure abound, the path towards $20,000 is still intact, even if the path is turning out to be choppier than some would have hoped. Maki...

Risking it all Disproportionate Focus  MicroStrategy updated its initial statement and announced that it now anticipates raising $537.2 million in net proceeds from a debt offering to buy even more Bitcoins. This is significantly higher than the original target of $400 million.  Furthermore, its unsecured, convertible senior notes will pay out 0.750% in interest annually to qualified institutional buyers – investors with at least $100 million under management – who buy in...