The CME Group, one of the world’s leading derivatives marketplaces, has announced the launch of a new trading product aimed at making Bitcoin futures more accessible to retail investors. Named the “Small Bitcoin Friday Futures,” this new offering is set to be introduced on a weekly basis, every Friday. The contract is designed to appeal to smaller investors by providing a lower-cost entry point into the Bitcoin futures market, which has traditionally been dominated by institutional players.
The Small Bitcoin Friday Futures contracts will be based on one-tenth of a Bitcoin, compared to CME’s standard Bitcoin futures, which represent five Bitcoins per contract. This reduced size lowers the financial barrier for entry, making it possible for more investors to participate in the Bitcoin derivatives market without the need to commit large amounts of capital. The initiative aims to provide a more flexible and accessible way for traders to gain exposure to the volatility and potential upside of Bitcoin.
CME’s decision to launch these smaller contracts comes amid growing interest in Bitcoin and other cryptocurrencies from retail investors. The launch also aligns with CME’s strategy to expand its cryptocurrency offerings and cater to a broader range of market participants. Since launching its original Bitcoin futures in December 2017, CME has seen steady growth in trading volumes and open interest, reflecting the increasing demand for regulated Bitcoin futures contracts.
Tim McCourt, Global Head of Equity and FX Products at CME Group, commented on the launch, stating, “Our new Small Bitcoin Friday Futures contracts provide a more cost-effective and accessible way for individual investors to gain exposure to Bitcoin’s price movements. By introducing these smaller contracts, we hope to meet the needs of retail investors looking for efficient risk management tools in the cryptocurrency space.”
The introduction of Small Bitcoin Friday Futures is also expected to provide additional liquidity to CME’s existing Bitcoin futures market. It will offer more flexibility for investors looking to hedge their positions or speculate on Bitcoin’s price changes within a shorter time frame. As interest in cryptocurrencies continues to grow, CME’s move to cater to smaller investors may further solidify its position as a leading player in the regulated crypto derivatives market.
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Bitcoin Price Eyeing K After Fed Says it Has ‘Infinite Cash’ | Democrats Propose ‘Digital Dollar’
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The Bitcoin price has a maximum 15% chance of falling below $3,800 if current BTC price levels continue, says popular Crypto trader Tone Vays as BTC nears $7,000.
In a YouTube update on March 24, an increasingly bullish Vays updated his outlook for BTC/USD.
He argued that at around $6,750, the pair was sitting at resistance. Break above $6,800 and Bitcoin (BTC) would all but eliminate the likelihood of dipping to new lows under $3,800 — only a 15% chance would remain.
“Going above $6,800 would maybe give me 85% confidence we’re not going to go below this — and we’re almost there, we’ve almost broken it; we’re sitting at resistance,” he said.
“Right now, I believe there’s a 20-25% chance we’re going to go below $3,800.”
Vays had previously sounded the alarm about a potential Bitcoin collapse to as low as $2,000 before May’s block reward halving.
Now, however, he told traders that it was foolish to avoid entering the market in the hope of catching the next dip.
He continued: “That still means that you can’t wait; you can’t wait for another pullback to $3,500 — you should be in Bitcoin by now.”
As Trump Talks Trillions, Binance CEO Predicts $2T Bitcoin Market Cap After United States President Donald Trump first mooted a $1 trillion stimulus package for the U.S. economy in the wake of the coronavirus outbreak, people were shocked at what seemed like a gargantuan amount.
As Cointelegraph reported a few days later on March 25, a bipartisan deal has been agreed for twice that figure and it suddenly seems far more tangible.
Binance CEO Changpeng Zhao even tweeted that the new financial dialogue meant a $2 trillion market cap for Bitcoin could be considered “modest”.
“As we get used to talk about Trillions, a modest $2 trillion market cap of bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right? As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Here’s some perspective on the astronomical number that is $6 trillion. $6 trillion is the same as – 1/3 of America’s GDP– 130% of the Federal Reserve’s balance sheet– Enough money for $850 for each human being on Earth– or 900 million Bitcoin
Crazy.
— Nick Chong (@_Nick_Chong) March 24, 2020
As we get used to talk about Trillions, a modest $2 trillion market cap of #bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right?
As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it.
— CZ Binance 🔶🔶🔶 (@cz_binance) March 25, 2020
https://cointelegraph.com/news/as-trump-talks-trillions-binance-ceo-predicts-2t-bitcoin-market-cap
https://cointelegraph.com/news/bitcoin-price-rejects-7k-but-tone-vays-says-75-chance-btc-bottomed
Post Views: 266 -
BITCOIN (BTC) TARGETING BITCOIN (BTC) TARGETING $1,150,000 AFTER SHIFT IN FEDERAL RESERVER POLICY, SAYS REAL VISION CEO!!,150,000 AFTER SHIFT IN FEDERAL RESERVER POLICY, SAYS REAL VISION CEO!!
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Raoul Pal thinks Federal Reserve policies could lead Bitcoin (BTC) to 100x gains.
On Thursday, Fed Chairman Jerome Powell said that the U.S. central bank would prioritize keeping unemployment low over reigning in inflation.
Pal, the former head of European hedge fund sales for Goldman Sachs, says that the shift in monetary policy is lending major upside to gold and, to an even greater degree, Bitcoin.
“Powell has shown that there is ZERO tolerance for deflation so they will do ANYTHING to stop it, and that is good for the two hardest assets – gold and Bitcoin.
Powell WANTS inflation. I don’t think he gets true demand push inflation, but he will get fiat devaluation, in conjunction with the other central banks all on the same mission. Overall, I think Bitcoin outperforms gold. Gold can go up 2x or 3x or even 5x while Bitcoin can go up 50x or even 100x.”
The top cryptocurrency is currently trading at $11,496 so a 50x gain would mean a value of $574,800 per BTC, and a 100x gain would be a $1,149,600 Bitcoin price.
In the short term, Pal says both gold and BTC could drop further, and he’s loading up on Bitcoin and Ethereum amid the market downturn.
“Gold has maybe 25% downside and Bitcoin 50%, so risk-adjusted BTC kills it. However, I own both but a LOT more BTC (and some ETH). Over time, all will rise again. I’m buying more BTC and ETH as the price falls and my gold is in a vault not to be touched.”
Meanwhile, Pal says Ethereum (ETH) offers a unique use case.
“[Ethereum is] not a reserve asset but a call option on a future platform for finance and trusted ownership via smart contracts.”
In other trending Bitcoin News today:
Yearn.finance (YFI) Jumps to $25,000 Eclipsing Bitcoin’s All-Time High Price of $20k
Yearn.finance (YFI), one of the hottest crypto assets in the Ethereum decentralized finance space, has seen an extreme price performance in the past day.
The asset has gained approximately 30% in the past 24 hours. This is an outperformance of Bitcoin’s 1% gain and Ethereum’s 1.7% move higher.
YFI is currently trading above $25,000 at this time.
What’s especially notable about the rally in YFI is that it was launched just a month ago. Further, at the launch, creator Andre Cronje asserted that the cryptocurrency literally has “zero value.”
The crucial trend behind YFI’s ongoing move to the upside is it getting listed on another leading DeFi platform, Aave.
Aave is a money-market protocol that allows users to lend and borrow cryptocurrencies based on Ethereum. Aave announced the listing on August 28th.
This listing should provide YFI with some positive price pressure as that means holders can now earn further yields on their YFI.
YFI is also benefiting from the launch of Curve’s Curve DAO token (CRV).
The token is being used by Yearn.finance as a medium through which yield can be obtained on deposits of stablecoins like USD Coin and Tether.
These yields have become so attractive to investors that hundreds of millions have been siphoned into the Yearn.finance protocol.
This increase in deposits has led to an increase in the value of YFI, which is a proxy for the value of the Yearn.finance ecosystem.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
I don’t think he gets true demand push inflation but he will get fiat devaluation, in conjunction with the other central banks all on the same mission.
Overall, I think #Bitcoin outperforms gold. Gold can go up 2x or 3x or even 5x while bitcoin can go up 50x or even 100x.
— Raoul Pal (@RaoulGMI) August 28, 2020
Prepare to be patient in #Bitcoin. Each up cycle takes longer to play out and is less extreme as absolute dollar value gets much larger.May or may not be another 6-12 months before price breaks up. Should not matter as end price point obscenely higher.
Hodlers rejoice. pic.twitter.com/IH7izyxXvm
— Dan Tapiero (@DTAPCAP) August 28, 2020
Yearn.finance (YFI) Jumps 30% Towards Bitcoin’s All-Time High Price of $20k
https://cointelegraph.com/news/history-shows-bitcoin-price-may-take-3-12-months-to-finally-break-20k
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BITCOIN HALVING DUMP FROM K TO .1K: 3 REASONS WHY | BTC Can Stay Bullish After 15% Retracement
➡️ REPLAY – TEEKA TIWARI – 5 Coins To $5 Million: http://final5.cryptonewsalerts.net
Bitcoin (BTC) price dropped from $10,000 to $8,100 within just over a day, as it plunged by 9% in a single hour.
It liquidated $200 million worth of longs, obliterating the futures market.
The three key reasons that triggered the immense Bitcoin correction were: strong multi-year resistance area above $10,000, whales moving to short the market on BitMEX, and extreme volatility heading into the Bitcoin Halving.
REASON #1: $10,200 to $10,500 is a multi-year strong resistance area for Bitcoin
Since mid-2018, the $10,200 to $10,500 range served as a historically strong area of resistance for the top-ranking cryptocurrency by market capitalization.
After its first breakout above $10,500 in June 2019, which led to a swift run to $14,000, Bitcoin failed to move above that level five out of six times in the last two years.
When the Bitcoin price initially broke down at $10,100 on May 8, it signaled the rejection of a key resistance level and left BTC vulnerable to a steep correction.
As whales started to sell at $9,900, it led to a cascade of long contract liquidations primarily on BitMEX and Binance Futures.
In one hour, more than $200 million worth of longs were liquidated.
REASON #2: Whales quickly moved to sell BTC at the point of rejection
Almost as soon as the rejection of $10,200 was confirmed, whales started to fiercely short Bitcoin across major cryptocurrency exchanges.
The open interest on the big four derivatives exchanges that include Binance Futures, BitMEX, Deribit, and OKEx plunged.
The term open interest refers to the total amount of long and short contracts open at a given time.
The rapid decline in open interest meant that as selling pressure began to build up, it caused over-leveraged buyers in the futures market to get trapped in their positions.
REASON #3: Massive volatility ahead of halving
Ahead of the Bitcoin block reward halving set to occur on May 12, trading activity on all major cryptocurrency platforms surged significantly.
CME saw record-high open interest, Deribit recorded all-time high volume for its options contracts, and spot exchanges demonstrated 2017-esque volume in the last three weeks.
When many new investors enter the market in anticipation of a major event, it opens the market up for a steep selloff.
For instance, after the 2016 block reward halving, the Bitcoin price dropped by more than 30%, as traders reacted with a sell-the-news response.
A confluence of an over-extended Bitcoin rally to $10,000, whales front-running retail investors with a sharp sell-off at $9,900, and high anticipation for the halving are triggering a near-term pullback prior to the May 12 Bitcoin halving.
In other trending Bitcoin News today:
Bitcoin Can Stay Bullish After 15% Retracement as Long as This Crucial Level Holds
It may seem like all hope is lost for bulls, yet one top trader recently shared that this isn’t the case.
Bitcoin holding $8,530 in the next 24 hours, a trader argued, will confirm a sweep of liquidity at a “pivotal level.”
Should Sunday’s candle close above this level, it would confirm that a bullish market structure remains somewhat intact.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
$BTC Lots riding on the next 24 hours. Want to see 12H, followed by the daily, close above $8530 to confirm a sweep into pivotal level. Close below and we have our first significant HTF break in MS to the downside since the bottom.
Happy Halving, call your mom. #Bitcoin pic.twitter.com/6pnt1uA52m
— HornHairs 🌊 (@CryptoHornHairs) May 10, 2020
https://cointelegraph.com/news/3-reasons-for-the-bitcoin-price-halving-dump-from-10k-to-81k
Post Views: 249