Bakkt Institutional Investors are Buying the Bitcoin Dips at Record Level

Bakkt Institutional Investors are Buying the Bitcoin Dips at Record Level
фото показано с : bitcoinexchangeguide.com

2020-8-26 21:11

This month has been all about ranging for bitcoin.

The largest crypto asset entered August on a bullish note. On July 20th, BTC/USD was trading around $9,150 when the bulls came in, and bitcoin started uptrending.

On August 2nd, the digital asset went above $12,100 only to crash back to $10,500 within a few minutes. From there onwards, every Monday of this month, we have been hitting $12k level only to drop soon after.

This week, the market seems even more shaky than usual, with prices now around $11,470. The price has managed to recover somewhat from yesterday's low of about $11,110, last seen on August 5th.

However, this has been largely in line with the precious metals as everyone eagerly awaited Fed Chairman Jerome Powell's speech this Thursday during a virtual version of the Fed’s annual Jackson Hole, Wyoming, conference.

Powell is expected to outline the central bank’s most active efforts ever to spur inflation back to a healthy level. The conference matters for the crypto market as well because of Bitcoin correlation with gold and the speech being an important driver for risky markets.

Keeping Steady

Meanwhile, as the market turned red, Bakkt institutional investors took this opportunity to buy the dips.

Yesterday, the ICE-backed physically delivered bitcoin futures platform’s trading volume broke into an all-time high of $147 million.

The last time Bakkt made a new record was twice in a row on July 27th and 28th at $134 million and $145 million, respectively. This volume record was the result of the price of BTC surging from $9,900 to about $11,400.

Source: Skew

This month also saw physical delivery on Bakkt recovering strongly, with the amount of bitcoin futures held in expiry increased by 133% to 135 BTC in August from the July lows at just 58 BTC.

The USD amount increased by even more, 202%, ending up at $1.6 million, as per Arcane Research.

August has been good for Bakkt as volume continues its way up. But unlike the trading volume and physical delivery of BTC, open interest has been moving in the opposite direction, downwards.

Open interest on bitcoin futures surged to $27 million on August 3rd, from $8 million on July 27th, and since then, it has been declining, reaching $9.5 million on August 25th.

Bitcoin (BTC) Live Price 1 BTC/USD =$11,471.0178 change ~ 1.65%

Coin Market Cap

$211.69 Billion

24 Hour Volume

$5.35 Billion

24 Hour VWAP

$11.39 K

24 Hour Change

$189.1307 var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD");

The post Bakkt Institutional Investors are Buying the Bitcoin Dips at Record Level first appeared on BitcoinExchangeGuide.

origin »

Bitcoin (BTC) на Currencies.ru

$ 93920.68 (+0.01%)
Объем 24H $57.51b
Изменеия 24h: 0.21 %, 7d: -0.27 %
Cегодня L: $91951.2 - H: $94247.58
Капитализация $1859.976b Rank 1
Цена в час новости $ 11482.97 (717.91%)

bitcoin btc usd 20th august bullish note

Источник: bitcoinexchangeguide.com

bitcoin btc → Результатов: 126


Фото:

El Salvador now holds 6,000 BTC: can Bitcoin success story sustain?

El Salvador, the pioneering nation that made Bitcoin legal tender in 2021, has surpassed 6,000 BTC in its treasury, valued at $561.3 million as of the latest update. This milestone represents not only a strategic accumulation effort but also a bold economic experiment under President Nayib Bukele’s leadership. With a 105% unrealised return on its […]

2024-12-30 09:51


Фото:

El Salvador rings in Christmas 2024 with a Bitcoin twist

El Salvador continues to showcase its unwavering commitment to Bitcoin, doubling down on its cryptocurrency strategy despite stringent restrictions imposed by the International Monetary Fund (IMF). On 19 December 2024, the country purchased an additional 11 Bitcoin (BTC), valued at over $1 million, pushing its total reserves to nearly 6,000 BTC. This comes on the […]

2024-12-24 17:26


Фото:

Bitcoin Rally Set To Extend? Expert Foresees A $110,000 Price Target For BTC

The general cryptocurrency community is brewing with excitement and optimism following Bitcoin’s rally to a new all-time high on Monday. Despite the significant price growth, there are speculations that the uptrend may not be ending anytime soon, suggesting BTC’s potential for more increases to higher levels or milestones. Next Big Milestone For Bitcoin On The […]

2024-12-17 17:30


3 tokens on track for new all-time highs like Tron (TRX) and Bitcoin (BTC)

The crypto market has witnessed a number of tokens rallying toward new all-time highs (ATHs), including notable players like Bitcoin (BTC) and Tron (TRX). Despite some setbacks, such as the US government transferring nearly $2 billion worth of Bitcoin, BTC has remained resilient, triggering a massive impulsive move that saw it reach an ATH of […] The post 3 tokens on track for new all-time highs like Tron (TRX) and Bitcoin (BTC) appeared first on CoinJournal.

2024-12-15 21:58


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bakkt shares slide as company explores sale or breakup options

Bakkt Holdings shares have declined following reports that the company was exploring strategic options, including a potential sale or breakup of its operations. On June 7, Bloomberg, citing people familiar with the matter, reported that the company had begun working with a financial advisor to assess these possibilities.

Aдaм Уaйт пoкинeт пocт пpeзидeнтa кpиптoвaлютнoй кoмпaнии Bakkt

Ha cлeдующeй нeдeлe Aдaм Уaйт пoкинeт пocт пpeзидeнтa кpиптoвaлютнoй кoмпaнии Bakkt, кoтopaя пpeдocтaвляeт уcлуги пo xpaнeнию цифpoвыx aктивoв, a тaкжe тopгoвлe фьючepcaми и oпциoнaми нa биткoйн. B 2018-м Уaйт увoлилcя из кpиптoбиpжи Coinbase и cтaл ocнoвaтeлeм и иcпoлнитeльным диpeктopoм Bakkt.