BitMEX's utility token (BMEX) plummeted 90% to $0.002 after the exchange announced its decision to wind down operations. The closure follows a significant drop in BitMEX's Bitcoin futures market share and is seen as part of broader industry corrections.
Bitcoin has rebounded to nearly $66,000 from its June 30 low, but options traders are still paying high premiums for downside protection, and leveraged long positions are rebuilding. This creates a 'pre-capitulation trap' as the market awaits the Federal Reserve's policy meeting.
Bitcoin surged past $63,000, buoyed by a return of ETF inflows totaling over $500 million. However, rising leverage in derivatives markets and increased exchange supply pose risks to the fragile rebound, suggesting potential vulnerability to market shocks.
Bitcoin hovers around $60,300, facing a divided market. Retail investors are pulling funds, with $4.4 billion exiting US spot Bitcoin ETFs in June, while institutions remain on hold despite discounted valuations. Leverage unwinds orderly, but a price break below $58,800 could trigger further selling.
Bitcoin's price dropped to $58,000, entering a zone historically associated with cycle bottoms by power-law models. Derivatives data points to $55,000 as the next key support, while $65,000-$68,000 is identified as a major upside target, with a daily close above $60,000 crucial for a local bottom confirmation.
Bitcoin's price drop to $58,000 has placed it within a historical range for cycle bottoms according to power-law models. Derivatives data indicates $55,000 as crucial support and $65,000-$68,000 as a key upside target, with a daily close above $60,000 vital for a local bottom.
Hyperliquid's HYPE token has dropped 22% from its all-time high, testing the critical $50-$54 support zone. While spot selling shows signs of easing, derivatives activity continues to weaken, with traders reducing exposure as the token faces its first major trend test since January.
Silicon Data is partnering with CME Group to launch futures contracts for AI compute power, aiming to help companies hedge against fluctuating costs. Asset managers are already filing for ETFs tied to these contracts, signaling strong investor interest.
XRP faces a market split between traders betting on further decline and investors accumulating amid Ripple's expansion into institutional finance, with spot demand and ETF inflows countering derivatives short selling.
Markets are now pricing in a potential Federal Reserve interest rate hike for the first time this cycle, following high inflation data. CME Group's FedWatch tool indicates a 51% probability of a hike by December and over 71% by March 2027.
CME Group and Silicon Data introduce a compute futures market based on GPU price indexes, enabling investors to hedge against rising computing costs in AI investments.
Bitcoin moves closer to $80,000 as data shows traders positioning in futures markets. Will potential profit-taking in the $83,000 to $88,000 range put a cap on the rally?
Bitcoin moves closer to $80,000 as data shows traders positioning in futures markets. Will potential profit-taking in the $83,000 to $88,000 range put a cap on the rally?
Bitcoin reached a monthly high of $79,472 on Wednesday, marking its strongest 28-day return since April 2025. The rally coincides with the Bitcoin positioning index rising to 4.5 from -10.9 in February, while open interest grew 14.5% over 30 days. The $81,000 level serves as the first test area, with $88,000-$91,000 identified as a key supply zone.
RAVE briefly crossed a $6.7 billion valuation on Apr. 18 before collapsing nearly 95% in hours. The market infrastructure surrounding the token, consisting of thin float, concentrated supply, and a live perpetual market, drove the scale of both the rally and the destruction. ZachXBT alleged that insiders controlled more than 90% of RAVE's supply, with […] The post How crypto futures markets are feeding ‘scam coin’ insider pump and dumps appeared first on CryptoSlate.
