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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-cap assets. Looking at the MVIS indices, the large-cap index is up 14.5%, while small-cap index is o...

As we start moving into the last two weeks of the trading year, investors everywhere are hopeful that “Santa Claus" will visit The actual Wall Street saying is that “If Santa Claus should fail to call, bears may come to Broad & Wall." The Santa Claus Rally, also known as the December effect, is a term for more frequent than average stock market gains as the year winds down. However, as is always the case with data, average returns are sometimes different than reality. Please share this article - Go to very top of page, right hand side, for social media buttons.

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 high and the uptick in the OI was particularly evident on the CME, which surged almost 25%.  In th...

“Santa Claus” will visit  The actual Wall Street saying is that  “If Santa Claus should fail to call, bears may come to Broad & Wall.” The Santa Claus Rally, also known as the December effect, is a term for more frequent than average stock market gains as the year winds down. However, as is always the case with data, average returns are sometimes different than reality. Stock Trader’s Almanac explored why end-of-year trading has a directional tendency. The Santa Claus indicator is pretty simple. It looks at market performance over a seven day trading period – the last five tra...

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. Making Noise  While Bitcoin continued its bull riding proceedings, the boisterous market for Ethereum i...