In brief
Vibrant trading session yesterday as bitcoin jumped 13% past $9k
$30bln bitcoin futures crossed, most active session since the March crash pic.twitter.com/PQR8jvsdv7
— skew (@skewdotcom) April 30, 2020
$103,336.00
3.86%$2,365.63
21.39%$2.42
9.65%$638.91
4.05%$175.08
13.51%$0.999969
0.00%$0.210443
14.68%$0.802773
11.53%$0.263544
5.03%$2,346.75
20.61%$4.05
8.07%$103,473.00
3.94%$16.43
10.57%$23.88
13.97%$2,812.85
19.83%$0.305675
11.62%$0.00001556
15.72%$0.204921
10.17%$25.69
18.88%$416.41
0.18%$3.32
6.41%$8.75
-0.58%$0.999946
-0.00%$99.70
8.10%$4.72
10.92%$2,371.42
21.69%$302.95
2.36%$2,495.43
19.79%$0.00001294
41.65%$0.748458
20.71%$4.52
4.21%$0.99912
-0.36%$103,319.00
3.83%$1.001
0.15%$30.33
4.37%$6.42
23.04%$434.35
8.49%$5.77
13.06%$2.96
19.13%$1.044
12.84%$54.25
4.97%$212.00
12.57%$1.051
0.00%$19.37
12.08%$0.102081
7.05%$14.45
18.74%$1.00
0.00%$5.34
9.95%$0.104164
8.73%$22.11
3.27%$32.91
10.19%$5.05
10.89%$0.773653
5.86%$0.02999872
12.61%$0.258704
12.47%$0.86564
17.88%$0.380157
23.20%$4.93
12.80%$1.003
0.25%$103,061.00
3.51%$0.23916
13.06%$1.17
0.21%$3.05
10.85%$0.593655
9.18%$4.35
0.09%$2.92
11.14%$0.382734
15.41%$0.00002301
24.29%$4.56
7.98%$1.16
15.60%$0.533306
16.79%$0.999257
0.07%$0.977698
5.07%$1,752.64
8.10%$182.84
12.88%$2,369.51
21.34%$96.19
2.48%$11.17
3.16%$1.37
25.38%$2,464.58
21.44%$2.05
26.92%$0.859424
1.36%$0.01991436
2.51%$1.29
1.70%$4.65
15.73%$0.751456
19.14%$0.238747
12.70%$0.076772
2.33%$0.663604
12.62%$12.01
14.45%$103,172.00
3.62%$2,665.79
20.57%$1.001
0.03%$0.110969
13.41%$0.785429
7.64%$0.00010276
22.53%$0.01530906
9.14%$1.035
19.94%$226.74
13.97%$640.37
4.13%$0.01889197
13.09%$0.999035
-0.38%$194.61
14.13%$2,523.24
21.63%$0.890859
14.03%$0.999832
0.01%$3.00
11.33%$0.01957092
19.93%$14.79
0.98%$0.842075
15.71%$103,462.00
3.90%$3,333.20
-0.35%$41.38
6.76%$0.082561
32.14%$0.332628
14.04%$104,982.00
5.18%$102,532.00
3.73%$0.635319
4.39%$3,334.22
-0.45%$0.999932
-0.01%$0.24037
10.17%$0.00000078
8.32%$23.08
16.02%$4.18
8.45%$0.763777
19.97%$2,469.33
20.90%$2.32
8.28%$0.120677
5.43%$43.06
6.91%$0.435899
11.61%$2.04
18.63%$0.347878
10.90%$2,476.53
21.06%$0.622504
9.68%$0.997848
0.02%$3.97
11.82%$0.693294
18.38%$0.0188249
7.06%$1.001
0.38%$0.172223
18.46%$0.768069
13.03%$0.01042934
15.82%$1.11
0.98%$0.47745
11.11%$0.00608798
8.33%$0.177131
27.21%$8.27
11.76%$19.11
17.35%$0.210948
14.64%$0.682008
14.90%$110.98
0.01%$0.483876
7.45%$0.535888
11.58%$103,389.00
3.97%$1.48
12.65%$2,517.48
21.41%$2,371.46
21.73%$2,364.94
21.34%$0.627436
19.49%$0.19925
5.23%$1.002
0.39%$103,261.00
3.81%$2,344.70
20.20%$0.999993
0.01%$4.02
22.49%$0.066758
1.17%$2,380.72
19.27%$0.00002397
7.59%$101,231.00
4.40%$2.87
14.35%$6.56
10.30%$0.00879402
10.66%$0.999988
0.01%$1.65
5.06%$0.180296
11.71%$1.81
10.85%$0.088449
16.15%$0.097705
15.15%$0.0462396
10.83%$0.00634873
9.64%$0.00000044
4.95%$2,374.89
21.90%$0.654401
25.54%$103,952.00
4.96%$0.258754
12.47%$1.57
9.82%$1.019
1.83%$45.62
11.17%$1.086
0.03%$0.154582
0.08%$0.00000104
12.64%$0.364486
25.42%$2,335.40
20.58%$0.830609
17.62%$0.03784549
7.25%$0.00443661
7.84%$0.385316
5.94%$0.01922673
6.39%$0.388474
1.88%$0.00006705
10.24%$0.364247
15.30%$33.05
0.49%$0.178914
1.08%$1.002
0.21%$21.59
1.03%$0.849463
7.02%$0.999991
-0.05%$0.00347547
18.36%$131.88
14.02%$2,504.53
20.72%$1.40
-2.87%$0.748796
6.81%$23.87
13.95%$0.00000166
8.62%$1.21
34.71%$2.99
16.46%$103,284.00
3.78%$25.73
19.03%$1.001
-0.02%$0.26204
12.99%$2,598.86
21.37%$0.231047
15.03%$0.00364964
23.39%$0.999802
-0.02%$1.00
0.01%$3.85
16.82%$2,582.31
21.68%$0.532073
-5.12%$25.72
19.01%$0.0354913
4.59%$2,365.75
21.42%$3.63
9.11%$1.099
0.05%$2,544.89
21.21%$24.01
7.23%$17.65
10.22%$0.57691
7.16%$0.00386133
12.88%$1.00
0.02%$0.285907
8.48%$2,360.84
21.42%$3,326.63
-0.84%$0.276029
60.21%$0.809206
19.41%$0.03949119
7.55%$0.01403759
10.73%$0.117147
16.66%$2,075.89
3.91%Reading
The BitcoinBitcoin futures market had its busiest day on Wednesday since the historic Black Thursday market crash in mid-March.
Per data from crypto market analytics firm Skew, April 29 futures trading surged to just over $30 billion. This is roughly 40% shy of the $50 billion in volume the Bitcoin’s futures market saw on March 12 when Bitcoin’s price plummeted alongside a macro market selloff.
Vibrant trading session yesterday as bitcoin jumped 13% past $9k
$30bln bitcoin futures crossed, most active session since the March crash pic.twitter.com/PQR8jvsdv7
— skew (@skewdotcom) April 30, 2020
Of course, the price is going the opposite way on this go around. The futures volume surge is on the back of (or more rightly, has been the legs for) a 13% green daily candle that threw Bitcoin’s price from $7,600 for a daily close of $8,750. Bitcoin peaked yesterday above $9,000 per coin, briefly hitting nearly $9,422.
Crypto exchanges Bitfinex, Binance and Huobi enjoyed the most volume, netting $23.2 billion between themselves alone. Bitmex, once the undisputed leader in the futures market, saw only $5.3 billion in volume, as its dominance continues to wane post Black Thursday.
Total open interest in the Bitcoin futures market (i.e. how many trades are still open) has climbed back above $2 billion. The futures market topped an all-time high of $5 billion in open interest on February 12, only to have it crater to $1.8 billion a month later.
This impressive rally coincided with positive price action for oil, major stock indices and other major assets. Meanwhile, 3.8 million more Americans filed for unemployment last week.
Bitcoin’s precipitous price drop on Black Thursday dramatically shifted market share distribution in the Bitcoin futures landscape. A report today from the crypto research firm Coin Metrics confirms what Bitcoin market professionals had previously told Decrypt: The Bitcoin futures market has been fundamentally altered by one of the worst days in the history of global markets. A king dethroned Black Thursday was a defining blow in a fight for market share among crypto exchanges that began in 2019...
Speaking of the little guys, they may have had a hand in this rally, as well. According to data from Messari, Bitcoin’s total spot volume, a reliable metric to measure retail investor interest, has seen nearly $7 billion in volume over the past two days.
At the moment, Bitcoin has slid to just below $8,800 and is down 1 percent in the last 24 hours.
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A slew of tech bros—including the richest man in the world, Elon Musk—have adopted Mog Coin’s crypto-famous branding, apparently leading the Ethereum and Base token to pump 51% on the week, per data from CoinGecko. Mog Coin (MOG) is a meme coin referencing the slang phrase “mogging” or “to mog,” a term that originated on controversial image board 4Chan in 2016, according to KnowYourMeme. Put simply, it means to dominate somebody or something, often via physical strength or good looks. However, t...
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