• The crypto majors are slightly lower on Monday but some of the altcoins are trading well.
  • ChainLink has been listed on the Gemini exchange and will be available 5th May.
  • Open interest for Bitcoin futures markets has just smashed an all-time high.
  • Traders are also looking forward to the Bitcoin halving later on in the month.

Tyler Winklevoss the Co-Founder and CEO of Gemini exchange announced that the platform will be listing ChainLink (LINK) on the 5th of May, 12pm ET. LINK/USD then pushed higher but met some resistance at a key technical level pointed out on the chart below. 

LINK trading on Gemini Exchange

  • Traders are also looking forward to the Bitcoin halving later on in the month.

We think it is likely the [bitcoin] price will go above $10,000 before the halving actually takes place, due to a frenzy of activity among bullish investors, Simon Peters, bitcoin and cryptocurrency analyst at brokerage eToro said as cited by Forbes

  • Open interest for Bitcoin futures markets has just smashed an all-time high.

Bitcoin (BTC) futures jumped out the starting blocks after a bloody March and an April rebound. Trading volume continues to expand with exchanges like the Chicago Mercantile Exchange (CME) leading the way in growth rates. Binance and Huobi are now on top of the entire market in trading volume after dethroning BitMEX in March.

  • General sentiment in the crypto world

The cryptosphere is performing well relatively speaking. Some of the crypto majors like Bitcoin are trading very close to (2020) yearly highs. Some of the smaller coins around 50% of the way there like TRX and XTZ. The CoT report for last week also showed some of the larger funds in the crypto world are holding more long positions. This made sense as last weeks rally had a decent amount of volume and if the open interest figures are anything to go by there is more and more participation from larger firms in the digital currency world.  Although Bitcoin has breached the 9K mark once again the trend is still very much still higher with the price waves continuing to make higher lows and higher highs still.

 

 

All information and content on this website, from this website or from FX daily ltd. should be viewed as educational only. Although the author, FX daily ltd. and its contributors believe the information and contents to be accurate, we neither guarantee their accuracy nor assume any liability for errors. The concepts and methods introduced should be used to stimulate intelligent trading decisions. Any mention of profits should be considered hypothetical and may not reflect slippage, liquidity and fees in live trading. Unless otherwise stated, all illustrations are made with the benefit of hindsight. There is risk of loss as well as profit in trading. It should not be presumed that the methods presented on this website or from material obtained from this website in any manner will be profitable or that they will not result in losses. Past performance is not a guarantee of future results. It is the responsibility of each trader to determine their own financial suitability. FX daily ltd. cannot be held responsible for any direct or indirect loss incurred by applying any of the information obtained here. Futures, forex, equities and options trading contains substantial risk, is not for every trader, and only risk capital should be used. Any form of trading, including forex, options, hedging and spreads, contains risk. Past performance is not indicative of future FX daily ltd. are not Registered Financial Investment Advisors, securities brokers-dealers or brokers of the U.S. Securities and Exchange Commission or with any state securities regulatory authority OR UK FCA. We recommend consulting with a registered investment advisor, broker-dealer, and/or financial advisor. If you choose to invest, with or without seeking advice, then any consequences resulting from your investments are your sole responsibility FX daily ltd. does not assume responsibility for any profits or losses in any stocks, options, futures or trading strategy mentioned on the website, newsletter, online trading room or trading classes. All information should be taken as educational purposes only.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: The monthly settle defines the next move

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: The monthly settle defines the next move

The crypto market is at a standstill going into the final days of November. The monthly price will likely depict price action for weeks to come, and the market could witness an uptick in volatility. Traders should keep their eye on the key levels identified for any last-minute moves.

More Bitcoin News

FTX Latest: Former CEO Sam Bankman-Fried explains reopening withdrawals of Bahamian arm

FTX Latest: Former CEO Sam Bankman-Fried explains reopening withdrawals of Bahamian arm

FTX Digital Markets filed for bankruptcy on November 16; however, withdrawals for some will be resumed temporarily. Former FTX head Sam Bankman-Fried attempted to inform Bahamian regulators beforehand but to no avail.

More Cryptocurrencies news

Arguing the case for a Cardano price pullback to $0.35

Arguing the case for a Cardano price pullback to $0.35

Cardano price has produced four lower highs throughout the month, with three connected by a recently breached trendline. A hurdle above $0.322 could create an additional 12% upswing. A four-hour candlestick close below the $0.304 level would invalidate the bullish potential.

More Cardano news

Luna Classic Price Prediction: 10% drop then a market reversal

Luna Classic Price Prediction: 10% drop then a market reversal

Terra's Luna Classic price has been trading range bound for over a week. The consolidating range has produced higher highs and higher lows following each change of trend. A breach of $0.0001690 would invalidate the bearish triangle thesis.

More Luna Classic news

Bitcoin: Assessing chances of one last bear market rally for 2022

Bitcoin: Assessing chances of one last bear market rally for 2022

BTC is in a good place to trigger another bear market rally from a high-time frame perspective. This development, combined with the optimistic outlook seen in on-chain metrics, further strengthens the possibility of a happy ending to 2022.

Read full analysis

BTC

ETH

XRP