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Institutional FOMO? CME Bitcoin Futures Open Interest Soars to $841M

Source Node: https://cointelegraph.com/news/institutional-fomo-cme-bitcoin-futures-open-interest-soars-to-841m
Time Stamp: August 11, 2020 8:15 PM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

Today the open interest on Chicago Mercantile Exchange Bitcoin (BTC) futures reached a new all-time high at $841 million. Although this can't be deemed bullish on a standalone basis, it does signal that professional investors' interest in Bitcoin continues to grow at an immense rate. Further proof of this comes as MicroStrategy, a Nasdaq-listed company worth more than $1.2 billion, announced the acquisition of 21,000 Bitcoin for $250M. This shows that regardless of what critics have said about cryptocurrencies, savvy investors and entrepreneurs have recently built sizable positions in Bitcoin and some altcoins.CME

Bitcoin Price Seals Best Weekly Close in 2.5 Years: 5 Things to Know

Source Node: https://cointelegraph.com/news/bitcoin-price-seals-best-weekly-close-in-25-years-5-things-to-know
Time Stamp: August 10, 2020 5:18 AM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

Bitcoin (BTC) greets another week with a push to $12,000 and its highest weekly close since after it hit $20,000 — will it return?Cointelegraph takes a look at five things that stand to impact BTC price performance in the coming five days.BTC: A two-and-half-year record weekly closeBitcoin hitting $12,000 again early Monday was more than just a boon for traders — in doing so, BTC/USD sealed its highest close on weekly time frames since January 2018.This means that no single week of price action ended at such high levels since,

Slow But Steady: FATF Review Highlights Crypto Exchanges’ Struggle to Meet AML Standards

Source Node: https://cointelegraph.com/news/slow-but-steady-fatf-review-highlights-crypto-exchanges-struggle-to-meet-aml-standards
Time Stamp: August 8, 2020 9:00 AM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

In June 2019, the intergovernmental Financial Action Task Force (FATF) introduced its revised set of standards for virtual asset service providers. The document establishes the anti-money laundering and counter-terrorism (AML/CFT) requirements that regulated VASPs —  the term mainly referring to cryptocurrency trading platforms — must eventually implement in their day-to-day operations. The guidelines are framed as recommendations, and the FATF leaves it to the participating nations’ governments to develop their own regulations in accordance with suggested principles.The watchdog has also set a 12-month review timeframe to monitor the public and

Why Toppling Silver and Gold Prices Could Be Especially Bad for Bitcoin

Source Node: https://bitcoinist.com/why-toppling-silver-and-gold-prices-could-be-especially-bad-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=why-toppling-silver-and-gold-prices-could-be-especially-bad-bitcoin
Time Stamp: August 7, 2020 11:09 AM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

In March 2020, the stock market dragged cryptocurrencies down to their Black Thursday bottom. Since then, however, soaring gold and silver prices have helped restore interest in Bitcoin and altcoins. These hard, digitally scarce assets are expected to perform similarly to precious metals due to similar supply attributes. Still, it also could cause a disastrous crash in crypto as a result. Silver and Gold Rally Ready For Pullback And Dollar Stages Overdue Recovery The dollar has been in steady decline, with top financial market analysts from the likes of Goldman