A new report by one of the Big Four accounting firms, KPMG, reveals that investment in the crypto and blockchain space grew 5.5 times the previous year to more than a record $30 billion in 2021. KPMG called 2021 a “Blockbuster year for crypto and blockchain.” ‘Blockbuster Year for Crypto and Blockchain’ KPMG published a […]
Bitcoin has recovered back to $42,000 since the dump after recording a bearish trend. Since then, sentiment, as well as momentum, has since turned towards the positive, leading the digital asset back on the path to a bull rally. But this does not tell the whole story. In this report, we take a look at the bitcoin futures basis, where it’s at, and what it currently says about sentiment among institutional investors. Institutional Investors Getting Bullish? Institutional investors may be getting bullish based on what the bitcoin futures basis is saying. Although there has not been much change in the futures basis despite the recent strength displayed by bitcoin, it still helps to take a look. Related Reading | Bitcoin Settles Above $43,000, But What Does The 4-Year Cycle Say? Mainly, derivatives trades remain on the fence. The CME’s basis has also been stabilizing around 3%, in addition to the gap between the CME and the offshore market continuing to narrow ever more slightly. As for the three-month basis in the offshore venues, it remains stable, still circulating around the 3.5% to 5.5% level. It sits below the recorded level for the previous week though. BTC trading below $44K | Source: BTCUSD on TradingView.com CME’s front-month contract is now trading above the offshore market. This is a significant milestone in the fact that this is rare. The last time the front-month contract on CME was trading above the offshore market was in October of 2021. This could mean that institutional investors are starting to look at the market through a more positive lens, which could turn bullish going forward. Bitcoin Futures Basis Is Rising The bitcoin futures basis has been rising as evidenced across various crypto exchanges. There could be a number of reasons for this but it could also be a direct result of growing inflows into some of the futures-based ETFs that were approved last year. BITO alone had seen a total of 135 March contracts on Monday. This could also be seen as a contributor to the growing basis. Related Reading | Bitcoin Flips $44k To Support, Bulls In Longest Rally Since September Bitcoin futures annualized rolling 3-month has been on the rise, with FTX leading the charge. Usually, Binance, the world’s foremost leading crypto exchange, would be the highest but not this time. Binance trading below FTX | Source: Arcane Research FTX has seen a 5.36% on its bitcoin futures annualized rolling 3-month basis. Binance is trading below this basis at 3.92%. Others are Deribit, BitMEX, and the CME, all coming in at 4.41%, 3.81%, and 2.76% respectively. These numbers point to brewing momentum even though the futures basis has remained mostly flat. With price picking back up on the charts, derivatives traders may begin to come off the fence, most likely stepping into the bullish territory. Featured image from MARCA, charts from Arcane Research and TradingView.com
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Hi all, I'm recent lurker and long time observer of the crypto environment and I would like you guys to give me your 2 cents on something that is bothering me 😬 If L2 Solutions become the standard practice and ethereum becomes the base layer or if u wish it becomes the foundation to support…
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The two bills introduced on Feb. 2 propose allowing the state of Tennessee as well as its counties and municipalities to invest in crypto, as well as forming a committee aimed at studying crypto and blockchain.
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PRESS RELEASE. Blockchain technology has been referred to as one of the disruptive innovations in the past decade leading to the creation of cryptocurrencies and changing the financial landscape. The gaming sector is the fastest-growing globally, and blockchain technology has been increasingly adopted within games. ChainWars is one of the GameFi projects that is at […]
A fresh round of exchange listings and a cross-chain launch on the Binance Smart Chain have boosted ACH price by 77%.
Really guys you need to start doing this, especially now when the market is in such a confusing state. Personally I keep 10% of my portfolio in USDC or USDT and it has worked wonders for me. There are two main advantages to doing this which I shall explain. Staking. This isn't the main reason…
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How would I go about on getting someone to make me a payment system that accepts RVN coins as payment? I run a few Rust servers and I'd like the players of the server to be able to buy in-game perks, kits and other privileges on the server, but I want the payments to…
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