Galaxy Digital previously facilitated the launch of Goldman Sachs’ Bitcoin futures trading product for CME Group in June 2021.
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Galaxy Digital previously facilitated the launch of Goldman Sachs’ Bitcoin futures trading product for CME Group in June 2021.
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The futures options, expected to start trading on March 28, will come more than two years after the CME Group launched a BTC options trading product in January 2020.
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Bitcoin’s drop to $42,000 obliterated its open interest and liquidated a large swath of leveraged traders, but analysts say OI resets typically provide great buying opportunities.
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Nearly $3 billion in BTC options expire on Nov. 26, and bears are better positioned below $58,000.
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The absence of cascading liquidations, 25% delta skew and the margin lending ratio all suggest that Bitcoin price bottomed at $56,500.
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Bitcoin price is hitting resistance while trading 7.75% below its all-time high, but derivatives data shows pro traders are still aiming for $80,000 by January.
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Bitcoin bulls could be in for a $715 million profit if BTC price is above $60,000 ahead of Friday’s $3.2 billion options expiry.
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Bitcoin’s futures premium hit its highest level in 5 months, but was this the primary reason for BTC’s fall below $60,000?
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Hash rate, supply shock, and U.S. credit risk are likely the causes for the BTC rally.
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BTC’s futures markets premium and options risk gauge show that there are not any signs of excessive leverage or FOMO from traders — yet.
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