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Zeitgeist, a decentralized protocol focused on advancing prediction markets , is launching its new automated market maker (AMM) on Thursday, February 1, per the latest information shared with Finbold. The new AMM utilizes a novel Dynamic Logarithmic Market Scoring Rule (DLMSR) and aims to significantly advance the blockchain prediction market space by introducing a new and dynamic liquidity model to the industry. The benefits of the DLMSR model The DLMSR model seeks to resolve several issues that impact profitability – especially of large trades – that are present when the Constant Product Market Maker (CPMM) model is used. Price impact of DLMSR vs CPMM. Source: Zeitgeist The new model will significantly reduce slippage, thus boosting trading efficiency and profitability, and is expected to be particularly impactful in heavily skewed markets. Cryptocurrency Ithaca announces $2.5 million pre-seed round for novel on-chain options protocol ...

The Bitcoin futures annualized premium jumped to 34% on Nov. 28, leading analysts to speculate about an imminent spot BTC ETF approval. The demand for institutional investors for Bitcoin (BTC) became evident on Nov. 10 as the Chicago Mercantile Exchange (CME) Bitcoin futures flipped Binance's BTC futures markets in terms of size. According to BTC derivatives metrics, those investors are showing strong confidence in Bitcoin's potential to break above the $40,000 mark in the short term. CME Bitcoin futures open interest, USD. Source: Coinglass CME's current Bitcoin futures open interest stands at $4.35 billion, the highest since November 2021 when Bitcoin hit its all-time high of $69,000–a clear indication of heightened interest, but is it enough to justify further price gains? CME's remarkable growth and the spot Bitcoin ETF speculation The impressive 125% surge in CME's BTC futures open interest from $1.93 billion in mid-October is undoubtedly tied to the anticipat...

BTC futures and options held firm despite a wave of negative news, and data shows traders targeting $40,000. The cryptocurrency market recently experienced events that were previously expected to present a severe negative price impact, and yet, Bitcoin (BTC) trades near $37,000 on Nov. 22, which is essentially flat from three days prior. Such performance was utterly unexpected given the relevance of Binance’s plea deal on Nov. 21 with the United States Authorities for violating laws involving money laundering and terror financing. Bearish news has had limited impact on Bitcoin price One might argue that entities have been manipulating Bitcoin’s price to avoid contagion, possibly involving the issuing of unbacked stablecoins–especially those with direct ties to the exchanges suffering from the regulatory pressure. Thus, to identify whether investors became highly risk-averse one should analyze Bitcoin derivatives instead of focusing solely on the current price levels. The U.S. gove...

Bitcoin is giving plenty of longtime market participants reason to forecast a return to its previous cycle's $20,000 all-time high — or worse. Bitcoin (BTC) hovered above $26,000 into the Aug. 20 weekly close as doomsday BTC price target s kept coming. BTC/USD 1-hour chart. Source: TradingView Analysis: Bitcoin may see new "generational buying opportunity" Data from Cointelegraph Markets Pro and TradingView showed an eerie calm covering BTC/USD over the weekend, with the market down 11% in seven days. Rattled market observers remained highly cautious, and looking ahead, Keith Alan, co-founder of monitoring resource Material Indicators, saw only modest room for improvement. “I think $25k will eventually breakdown and clear a path to retest support at the 2017 Bull Market Top which was just under $20k, but I don't think we go there in a straight line,” he concluded in X Analysis on Aug. 19. “I'm looking for a retest of $25k support to potentially print a double b...

Bitcoin is still preparing for a BTC price "parabolic advance" with a popular metric laying the foundations, says Credible Crypto. Bitcoin (BTC) has not yet seen the majority of its gains this cycle, one popular trader believes. In a tweet on Aug. 3, Credible Crypto doubled down on his bullish BTC price thesis. Credible Crypto: Bitcoin still to see "biggest upside moves" After over a month of acting within a tight trading range, trader s’ patience with Bitcoin is wearing thin. Amid expectations that BTC price will test levels closer to $25,000 or even lower, Credible Crypto is one of those arguing the opposite. Analyzing data including Bitcoin market cap dominance and its relative strength index (RSI), he concluded that conditions had been reset . “Biggest upside moves on BTC are YET TO COME,” he summarized. “A month of sideways action on BTC and dominance has simply made a higher low. H12 bullish div confirmed, RSI on higher TF looks reset, maintaining above the ...

Bitcoin's record low volatility is also a sign that the next price breakout will be volatile, but everyone is guessing which direction price will take and how it will impact altcoins. The S&P 500 Index (SPX) continued its march toward its all-time high with a 3% gain in July. Signs of receding inflationary pressures and expectations of an end to the Federal Reserve’s tightening cycle are the factors that boosted risk-on sentiment. However, this bullish mood did not benefit Bitcoin (BTC) as it largely remained range-bound in July and is on track to end the month with a loss of more than 3%. The biggest question troubling traders is when will Bitcoin’s range break and in which direction. Daily cryptocurrency market performance. Source: Coin360 Typically, the longer the time spent inside the range, the greater the force needed for the breakout. Once the price escapes the range, the next trending move is likely to be strong. The only problem is that it is difficult to predict the ...

Bitcoin whales account for the most exchange inflows volume-wise since June 2022, as short-term holders become increasingly active. Bitcoin (BTC) whale buying and selling in 2023 is mostly from speculative investors, new data reveals. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode showed that contrary to popular belief, opportunistic entities are the most active whales. The birth of the Bitcoin "short-term holder" whale Since BTC price action returned to $30,000, a shift has taken place among Bitcoin traders. As Glassnode shows, so-called short-term holders (STHs) — investors holding coins for a maximum of 155 days — have become significantly more common. As it turns out, the largest-volume investor cohorts, the whale s, are also composed of large numbers of STHs. “Short-Term Holder Dominance across Exchange Inflows has exploded to 82%, which is now drastically above the long-term range over the last five years (typically 55% to...

Bitcoin and most major altcoins are slumping, but the charts suggest that a recovery could be around the corner. Bitcoin (BTC) extended its decline on May 12 but analyst Philip Swift, co-founder of trading suite DecenTrader and creator of data resource LookIntoBitcoin, does not expect a deep correction. He said it was “interesting to note that the long/short ratio has been climbing as price has trended down.” One of the reasons that is keeping analysts bullish is Bitcoin’s halving, which has followed a set cycle till now and analysts expect it to continue. Citing previous cycles, investor and entrepreneur Alistair Milne, said that the time to buy was now. Daily cryptocurrency market performance. Source: Coin360 However, in the near term, Bitcoin could be facing pressure due to the relief rally in the U.S. dollar index (DXY). Typically, the DXY has an inverse correlation with Bitcoin’s performance. What are the important support levels that may attract buyers in Bitcoin and the major ...

Crypto exchanges looking to capitalize off the Arbitrum airdrop fever have launched IOU and derivatives for ARB, an early sign of the excitement that will unfold on March 23. Developers from the Arbitrum Foundation announced the launch of Arbitrum DAO and its native governance token, ARB, on March 16. Eligible users and developers will receive 12.75% of the token’s total supply of 10 billion on March 23, when the token will be deployed.  Speculation around ARB began soon after the token launch announcement on OTC desks, derivatives exchanges and spot exchanges via IOUs (I Owe You). ARB tokens gain steam in pre-launch trading BitMEX launched the Derivatives contract for ARB June futures on Monday around 11 p.m. EST. The futures contracts were trading at around $1.30 at the time of writing, implying that traders are betting that ARB’s price will be near this amount by June’s end. The futures contract allows speculators to bet on the token’s price and Arbitrum airdrop receivers to hedge ...

Traders question whether the underperformance is due to the Shapella hard fork, while derivatives data indicates that ETH buyers lack conviction. The previous six months should have been extremely beneficial to Ether's (ETH) price , especially after the project's most significant upgrade ever in September 2022. However, the reality was the opposite: between September 15, 2022, and March 15, 2023, Ether underperformed Bitcoin (BTC) by 10%. Ether/Bitcoin price on Bitfinex, 2-day. Source: TradingView The price ratio of 0.068 ETH/BTC had been holding since October 2022, a support that was broken on March 15. Whatever the reason for the underperformance, traders currently have little confidence in placing leverage bets, according to ETH futures and options data. But first, one should consider why Ether's price was expected to rise in the previous six months . On September 15, 2022, the Merge, a Hard Fork that switched the network to a proof-of-stake consensus mechanism, occur...

Bitcoin longs get punished by relatively small BTC price losses as BTC/USD trends towards significant support lines. Bitcoin (BTC) traders remain sensitive even to small price movements as data shows liquidations climbing. As BTC/USD approaches $21,600 on March 9, those who are long BTC are seeing positions evaporate. Longs begin to disappear with BTC at three-week lows Despite consensus forming around Bitcoin retesting $20,000, small shifts in price are still taking their toll on traders. According to data from monitoring resource Coinglass, March 8 alone saw $24.4 million of BTC longs liquidated, the highest tally in almost a week. Bitcoin liquidations chart. Source: Coinglass This coincided with BTC/USD heading to three-week lows, abandoning $22,000 as support . At the time of writing, the downtrend continues, while liquidations for the day nonetheless remain negligible. Including altcoins, March 8 liquidated $95 million of longs and another $15.4 million of shorts. Further data f...