Connect with us

Bitcoin News

Bitcoin Futures: Institutions Went 100% Long as Price Soared to $8K

Published

on

Data from the US CFTC reveals that institutions on the CME went 100 percent long on Bitcoin futures, potentially capitalizing on yet another impressive green candle in mid-May. 


CME: Institutions Went 100% Long on Bitcoin

According to information released by the US Commodity and Futures Trading Commission, institutional investors had opened 100 percent long Bitcoin futures contracts as of May 14th.

The total number of CME Bitcoin futures contract between May 7 and 14 was 199 and all of them were betting on Bitcoin going up. However, it’s also worth noting that the total number of opened positions was with 87 less compared to the week before that.

As Bitcoinist reported, smart money also went long on Bitcoin before April’s spectacular rally.  It appears that once again smart money rode the uptrend, as bitcoin price 00 soared with around 15 percent from May 13th to May 14th.

On the other hand, the information from the CFTC also reveals that the opened leveraged funds short positions are more than the long ones.

Short positions currently account for 55.2 percent of all leveraged positions on the platform with a total number of 2455 (1 position = 5 BTC). While long positions are less than that, their number has increased since the previous week, while short positions have decreased.

Looking at Retail

While institutions have gone entirely long as of May 14th, since then retail seems to be a bit more bearish.

Data from TradingView shows that the number of short positions on cryptocurrency exchange Bitfinex has increased by about 12 percent in the last five days.

The number of long positions on the exchange is also marking an increase but it’s less impressive compared to the surge in shorts. Long positions have increased by around 4 percent in the last five days.

Bitcoinist reported earlier today that the more Bitcoin price remained stuck at the resistance range at around $8,000, the more likely it was to correct. And while the cryptocurrency did, in fact, plunge 6.7 percent, some traders like Josh Rager remain unfazed:

$BTC still in this condensing formation and held by horizontal supports. Not a lot has changed which shows that you don’t have to stare at charts all day – waiting for that next massive candle.

Bitcoin price analysis meanwhile shows that BTC/USD is currently being supported by an ascending triangle pattern, a bullish sign.

Where do you think will Bitcoin go from here? Don’t hesitate to let us know in the comments below!


Images courtesy of TradingView, CFTC, Shutterstock.

The Rundown

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading
Advertisement

Bitcoin News

NYSE files a trademark application for trading NFTs

Published

on

By

The world’s largest stock exchange may be planning to bring business into the Metaverse.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

Published

on

By

Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

Published

on

By

Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

Binance.US is under investigation from SEC over trading affiliates: Report

Published

on

By

Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

Boost Insurance unveils product covering against crypto theft from qualified custodians

Published

on

By

Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

MONSTERCHOMPERS NFTs
BREAKING NEW GROUND

You must have javascript enabled to view this plugin.

Copyright © 2022 The Crypto Report

You have not selected any currency to display
Thanks :)

 

', type: 'red', backgroundDismiss: false, backgroundDismissAnimation: 'shake', draggable: false, useBootstrap: false, boxWidth: '500px', escapeKey: true, buttons: { close: { text: 'Close', btnClass: 'btn-red close', action: function() { jQuery('#dhantiadblocker.jconfirm').delay(5000).fadeOut(); // Enable Mouse Right Click jQuery(document).ready(function () { jQuery(document).unbind("contextmenu"); // OR jQuery(document).bind("contextmenu",function(e){ return true; }); }); // Always Hidden Scrollbar (Hidden Double Scrollbar) jQuery("html").css({ "overflow-x":"hidden" }); // Enable Scrollbar jQuery("html, body").css({ "overflow-y":"visible", "height":"auto", }); } }, } }); }); } else { // if AdBlocker not Detected }