India’s Parliament is soon to enter winter session, and many legislators are pushing for the banning of cryptocurrency as a form of payment, but Indian investors could still buy and sell it as an asset. The government is also currently working on a bill that would ban advertising by crypto firms within the country. This would include any platform or exchange on which you could buy or sell cryptocurrency. The Reserve Bank of India, the central bank of the country, is aiding in pushing much of this crypto reform.. They have held numerous closed door meetings in the past few weeks with the government about how to address this issue. …
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Markets Report: Bitcoin price falls from $12,000 as futures gaps become targets
Gaps in CME Futures point the way for both bulls and bears as Bitcoin sits at $11,200 on Monday
Previous weeks were marked by macro volatility dictating Bitcoin price movements. The assets’ correlation is well documented, with Bitcoin and the S&P 500, for example, 95% correlated. Both this week and last, however, the pattern of copycat moves was conspicuously broken. Bitcoin is gaining over stocks, which are by contrast much less volatile.
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This is the closest approximation we could get to retail investors trading bitcoin futures (via Shutterstock).Dumb money keeps buying bitcoins from smart money, data comfirm
Big financial institutions and money managers continue a bearish position in the cryptocurrency’s futures contracts
“Smart money” continues to sell bitcoin to “dumb money”, according to the latest data compiled in the U.S. Commodity Futures Trading Commission’s (CFTC) Commitment of Traders report. Big financial institutions and money managers—with vast research and resources at their disposal—continue to hold positions in the cryptocurrency that will profit should bitcoin prices fall. They have been positioned that way since bitcoin contracts began trading more than three months ago. These institutions are net short some 1,833 contracts of bitcoin futures worth about $20 million on the Chicago Board Options Exchange (CBOE) as of February 27, 2018. A futures contract is an obligation for the “short” (the seller) to deliver on a…
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The same people who regulate bitcoin futures trading can now trade bitcoin
The CFTC says its employees are allowed to own cryptocurrencies
The U.S. Commodity Futures Trading Commission (CFTC) issued a formal decision this week that its employees are allowed to trade cryptocurrencies. Bloomberg reports that decision resulted from numerous inquiries from CFTC personnel asking whether or not they were allowed to own such digital assets. The answer was yes: the government employees who regulate bitcoin futures are also allowed to own bitcoin. This green light sees the CFTC joining the SEC as a crypto-friendly financial regulator, but just because two of the big dogs do it doesn’t mean everyone thinks it’s O.K. The critique—and there is always critique—is that allowing the individuals who make up these regulatory agencies to hold cryptocurrency…
