Bitcoin

Bitcoin is in for a “Severe Correction” as Open Interest Skyrockets

Bitcoin’s intense downtrend appears to be far from being over, as the benchmark cryptocurrency’s bulls were unable to support BTC above a critical support level that was ardently defended throughout yesterday. It now appears that the break below this level has put the crypto in precarious territory, potentially opening the gates for significantly further near-term […]

Bitcoin

BitMEX Open Interest Hitting $1B Could Be Bullish for Bitcoin This Time

Experts believe bitcoin’s explosive price rally is about to hit an end as a trend-defining technical indicator screams ‘sell.’ Bitcoin’s Open Interest (OI) is approaching $ 1 billion on BitMEX. Historically, whenever the total valuation of unsettled contracts touches the said valuation, bitcoin’s price in spot markets plunge. In September 2019, for instance, the cryptocurrency […]

ICO

Grayscale’s Bitcoin Trust Is Now Open to More Investors as SEC Reporting Company

Grayscale Investments’ bid to register its Bitcoin Trust as an Securities and Exchange Commission (SEC) reporting company has succeeded. The trust’s shares are now registered under the Exchange Act of 1934, making the Grayscale Bitcoin Trust the first cryptocurrency investment vehicle to become a reporting company. The trust now has to publicly file its quarterly […]