Binance introducing 20x leverage for Bitcoin futures: Bitcoin rebounds above $10,000


  • Binance users will soon start opening long and short positions on BTC price action.
  • Bitcoin revamps the trend reclaiming $10,000 support; all eyes set on $11,000.

The world’s largest cryptocurrency exchange by adjusted trading volume Binance is soon going to introduce leverage trading for futures. The development was first mentioned by the CEO of Binance Changpeng Zhao while speaking at Asia Blockchain Summit on Tuesday, July 2. This feature will enable customers to either open long and short positions on the movement of Bitcoin price.

Read also: Cryptocurrency market update: market cap slides below $300 billion – Bitcoin, Ethereum and Ripple freefall

The introduction of leverage Bitcoin futures on Binance is seen as a game changer that could further propel the exchange to greater heights in comparison to its competitors. The 20x leverage will also allow users to maximize their profits. The news also comes a few weeks Binance announced plans to add margin trading.

In other relevant news, Bitcoin has reversed the trend following the drop below $10,000. At press time, BTC/USD is trading at $10,169. The recovery appears to be in full force, besides the bulls have their eyes set on $101,000. The entire market is also grinding upwards in tandem with Bitcoin price. We will continue to update the price action, especially for the major cryptocurrencies.

BTC/USD 15-mins chart

 

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

The cryptocurrency market resumes the decline, Bitcoin (BTC) dangerously close to $8,000

Bitcoin and major altcoins resumed the decline after a short period of range-bound trading on Wednesday. The total market capitalization retreated to $220 billion, according to CoinMarketCap data. An average daily trading volume stabilized at $52 billion, while Bitcoin’s market settled at 66.3%. 

More Bitcoin News

EOS developer makes blockchain governance proposal

EOS has recovered from the intraday low of $2.81 to trade at $2.97 at the time of writing. Despite the recovery, the coin is still 5% lower from this time on Tuesday.

More EOS News

TRON price analysis: TRX/USD claws back ground after a sharp-sell-off

At the time of writing, TRX/USD is changing hands at $0.0156. The coin has lost over 5% in seven 24 days, and the downside momentum is still strong. 

More Tron News

Ethereum market update: ETH/USD drops below DMA50 amid growing bearish sentiments

ETH created the recent top at $197.80  on October 11 and has been sliding down ever since. The second-largest digital asset retreated below $180.00 during early Asian hours amid the sell-off on the cryptocurrency market.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls trapped below SMA200 daily

Bitcoin bulls have had a short glimpse of victory only to suffer a bitter disappointment this week.

Read the weekly forecast

BTC

ETH

XRP