Bitcoin (BTC) Price Subject to 'Intra-Day Volatility', Says Crypto Analyst Michael van de Poppe

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Fri, 06/26/2020 - 12:16
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Vladislav Sopov
While the majority of traders are waiting for the Bitcoin (BTC) price to move after the massive expiration of contracts, a top trader says it may be overestimated
Bitcoin (BTC) Price Subject to 'Intra-Day Volatility', Says Crypto Analyst Michael van de Poppe
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Top-league Dutch analyst and trader Michael van de Poppe showcased some numbers to look at instead of waiting for the effects the unique contracts expiration will have.

Nothing but intra-day volatility

Mr. van de Poppe underlined that the futures and options expiration day may bring intraday volatility, but other price catalysts remain much more powerful in terms of the effect on the Bitcoin (BTC) price.

Michael van de Poppe is sure that the influence of futures expiration on Bitcoin (BTC) price is overestimated
Image via Twitter

However, the market structure and price action remain important regardless of the expiration of futures. And it takes more than one catalyst to initiate a decisive move in the Bitcoin (BTC) price.

In terms of futures trading, Mr. van de Poppe supposes that the vast majority of traders will just flip over to new contracts as their old positions expire.

At press time, Bitcoin (BTC) is changing hands at $9,167 on major spot exchanges, only 1.45% down in 24 hours.

Bitcoin (BTC) futures expiration for the record book

As covered by U.Today, today's expiration of Bitcoin (BTC) futures is the biggest in derivatives trading history.

Recently, the Deribit cryptocurrency contracts trading platform reported the start of the expiration process. According to an announcement from the product team, 53% of Bitcoin (BTC) futures and 43% of Ethereum (ETH) futures have already expired.

Deribit platfrom has reported that massive liquidation has started
Image via Twitter

At press time, the platform reported the expiration of $726M in contracts. The overall amount of contracts to expire today is approaching 1.1B USD.

As covered by U.Today Crypto News, the Bitcoin (BTC) futures volume has surged significantly throughout a turbulent 2020.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)