Professional traders can hedge their Bitcoin bets using the iron condor options strategy as Q2 earnings' season comes into play.
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Bitcoin options strategy: How to trade July’s Q2 earnings
The stock market can offer valuable insights into possible Bitcoin (BTC) price movements, with a significant potential trigger expected this month.
Q2 earnings numbers due this month
Notably, Q2 earnings numbers are expected from some of the largest companies in the world in July, including:
UnitedHealth, Citigroup and JPMorgan on July 14.Bank of America and Morgan Stanley on July 18.Tesla, Google, Apple, Meta, Microsoft and Amazon before July 27.The S&P 500 companies account for an aggregate $36.5 trillion in market capitalization, so it makes sense to expect a positive impact on Bitcoin’s price if the earnings season sustains modest growth.
In other words, investors’ appetite for risk-on assets will increase if the odds of an imminent recession are reduced.
Leverage to be avoided given the level of uncertainty
Traders calling for a global economic slowdown will have a chance to profit if those companies fail to deliver earnings growth, further adding uncertainty to the economies. Governments rely heavily on taxes from companies and consumers, so a weak earnings season represents a serious threat.
SEC has pushed investors into 'toxic' crypto products and FTX: Winklevoss
Gemini co-founder Cameron Winklevoss said the SEC's refusal to approve a spot Bitcoin ETF has been a "complete and utter disaster for US investors."
Elon Musk imposes 'rate limit' on Twitter citing extreme ‘system manipulation’
Verified Twitter users will be allowed to view 10,000 posts per day, while new, unverified accounts will get 500 under the new limits.
Elon Musk imposes 'rate limit' on Twitter citing extreme ‘system manipulation’
Verified Twitter users will be allowed to view 10,000 posts per day, while new, unverified accounts will get 500 under the new limits.
AI-generated fake news sparks rumors of Gary Gensler’s resignation
The rumors, which have set crypto Twitter ablaze, are the latest example of AI disinformation at work.
LTC, XMR, AAVE, and MKR turn bullish as Bitcoin stalls under $31K
Bitcoin (BTC) has been trading in a narrow range for the past few days but that doesn’t take away the sheen from its stunning 84% rally in 2023. The strong recovery in Bitcoin’s price has boosted buying in several altcoins, which have risen sharply from their yearly lows.
As the second half of the year begins, the major question on every investor’s mind is, will the rally continue? CoinGlass data shows that July has seen only three negative monthly closes since 2013 and the biggest decline was 9.69% in 2014. This suggests that bulls have a slight edge.
Crypto market data daily view. Source: Coin360A large part of the latest leg of the rally in Bitcoin and altcoins was fuelled by hopes that the United States Securities and Exchange Commission will approve one or more applications for a spot Bitcoin exchange-traded fund. Any adverse news on this front could turn the sentiment bearish and result in a sharp sell-off.
However, for now, Bitcoin and select altcoins are showing strength. Let’s analyze the charts of the top-5 cryptocurrencies that may continue their up-move over the next few days.
Bitcoin price analysis
Bitcoin continues to trade near the stiff overhead resistance at $31,000. This suggests that the bulls are in no hurry to book profits as they anticipate another leg higher.
LTC, XMR, AAVE, and MKR turn bullish as Bitcoin stalls under $31K
Bitcoin’s narrow range trading may end soon and if an upside breakout happens. Meanwhile, LTC, XMR, AAVE and MKR are showing strength.
LTC, XMR, AAVE, and MKR turn bullish as Bitcoin stalls under $31K
Bitcoin (BTC) has been trading in a narrow range for the past few days but that doesn’t take away the sheen from its stunning 84% rally in 2023. The strong recovery in Bitcoin’s price has boosted buying in several altcoins, which have risen sharply from their yearly lows.
As the second half of the year begins, the major question on every investor’s mind is, will the rally continue? CoinGlass data shows that July has seen only three negative monthly closes since 2013 and the biggest decline was 9.69% in 2014. This suggests that bulls have a slight edge.
Crypto market data daily view. Source: Coin360A large part of the latest leg of the rally in Bitcoin and altcoins was fuelled by hopes that the United States Securities and Exchange Commission will approve one or more applications for a spot Bitcoin exchange-traded fund. Any adverse news on this front could turn the sentiment bearish and result in a sharp sell-off.
However, for now, Bitcoin and select altcoins are showing strength. Let’s analyze the charts of the top-5 cryptocurrencies that may continue their up-move over the next few days.
Bitcoin price analysis
Bitcoin continues to trade near the stiff overhead resistance at $31,000. This suggests that the bulls are in no hurry to book profits as they anticipate another leg higher.
Binance conducts 11th LUNC burn, 2.65 billion tokens destroyed
The Luna Classic burn mechanism works by automatically burning tokens whenever a transaction occurs on the network.
Vitalik Buterin declares he is not staking all of his ETH, merely a 'small portion’
Ethereum co-founder Vitalik Buterin explained the “biggest reason” is because it has to be on a multisig – which are still “fairly difficult” to set up.
Bittrex challenges SEC's authority in crypto lawsuit, seeks dismissal
Bittrex has adopted a similar approach to Coinbase, aligning its arguments closely with those made by the larger cryptocurrency exchange.
Bittrex challenges SEC's authority in crypto lawsuit, seeks dismissal
Bittrex has adopted a similar approach to Coinbase, aligning its arguments closely with those made by the larger cryptocurrency exchange.
Hong Kong establishes task force to advance Web3 development
The task force will advise on the “sustainable and responsible” development of Web3 in Hong Kong, according to the statement.
Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT
Bitcoin (BTC) witnessed a volatile trading session on the last day of the quarter. The bulls were trying to maintain Bitcoin’s price above $31,000 but they received a jolt on a Wall Street Journal report which stated that the United States Securities and Exchange Commission (SEC) had returned applications for the Bitcoin spot-price exchange-traded fund (ETF).
Although there was a knee-jerk reaction to the news, the downside was limited because it turned out that the ETF applications were returned due to a technical issue. The regulators said the asset managers could refile after providing the necessary clarifications.
Daily cryptocurrency market performance. Source: Coin360Bitcoin’s failure to cross above $31,000 seems to be making the short-term speculators jittery. A Glassnode research report released on June 28 shows that short-term holders (STHs), entities holding coins for 155 days or less, have sent more than 35,000 coins to the exchanges.
Any adverse news is likely to witness a negative reaction from SThs. What are the important support and resistance levels that need to be watched on Bitcoin and altcoins in the near term? Let’s study the charts of the top-10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin continues its tight consolidation near the overhead resistance at $31,000. This shows that the bears are trying their level best to stall the up-move but the bulls have kept up the pressure.
Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT
The rejection of ETF applications by the SEC caused a knee-jerk reaction but the shallow fall in Bitcoin and several altcoins suggests that lower levels are attracting buyers.
Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT
The rejection of ETF applications by the SEC caused a knee-jerk reaction but the shallow fall in Bitcoin and several altcoins suggests that lower levels are attracting buyers.
SEC calls ETF filings inadequate, Binance loses euro partner and other news: Hodler’s Digest, June 25 – July 1
Top Stories This Week
US SEC deems spot Bitcoin ETFs filings as inadequate
There may be a longer wait for a spot Bitcoin exchange-traded fund (ETF) in the United States, as the Securities and Exchange Commission labeled investment managers’ recent applications inadequate. The SEC told the Nasdaq and the Chicago Board Options Exchange that their filings are not “sufficiently clear and comprehensive.” The regulator returned the filings, citing the lack of information regarding the proposed surveillance-sharing agreement. Asset managers can still resubmit their applications.
Cathie Wood’s ARK reportedly ‘first in line’ for a spot Bitcoin ETF
ARK Investment Management is reportedly ahead of BlackRock in the race for a spot Bitcoin ETF, as it still has a previous application pending with the United States securities regulator. ARK and 21Shares filed their third application for a spot BTC ETF in April, and amended it this week to include a surveillance-sharing agreement, making it similar to BlackRock’s filing. Since BlackRock’s application on June 16, other investment firms such as Valkyrie, WisdomTree and Invesco have reapplied for spot Bitcoin ETFs.
Binance to lose support of its euro banking partner
Crypto exchange Binance informed users that its current euro banking partner, Paysafe Payment Solutions, will no longer support the exchange after September 25. Binance said it will switch to a new service provider for euro deposits and withdrawals via SEPA bank transfer, though it didn’t name which provider that would be. In recent months, Binance has been facing waves of backlash from regulators around the world, leading to a cessation of operations in various countries.
FTX has recovered $7B in assets so far, has almost $2B to go to cover misappropriations
FTX has recovered about $7 billion in liquid assets so far, and the search for additional assets is continuing, according to an interim report released June 26. The extensive commingling of funds complicates their efforts, however. The FTX Debtors, made up of FTX and affiliates, currently estimate the amount of misappropriated customer assets at $8.7 billion. Most of that money, about $6.4 billion, was in fiat and stablecoins. The former FTX leadership “did not commingle and misuse customer deposits by accident,” the report alleged.
3AC liquidators look to recoup $1.3B from founders
Teneo, the liquidator behind bankrupt hedge fund Three Arrows Capital (3AC) is seeking to recover roughly $1.3 billion in funds from its founders Su Zhu and Kyle Davies. The debt reportedly incurred when 3AC was already insolvent, adding to creditors’ losses. The company owed creditors $3.5 billion, making the founders’ potential liability more than a third of the total debt. Davies and Zhu have maintained active social media profiles, but their physical whereabouts are unknown, delaying the liquidation process. Both 3AC founders have received digital subpoenas during the bankruptcy proceedings. To date, they have not cooperated.
SEC calls ETF filings inadequate, Binance loses euro partner and other news: Hodler’s Digest, June 25 – July 1
Top Stories This Week
US SEC deems spot Bitcoin ETFs filings as inadequate
There may be a longer wait for a spot Bitcoin exchange-traded fund (ETF) in the United States, as the Securities and Exchange Commission labeled investment managers’ recent applications inadequate. The SEC told the Nasdaq and the Chicago Board Options Exchange that their filings are not “sufficiently clear and comprehensive.” The regulator returned the filings, citing the lack of information regarding the proposed surveillance-sharing agreement. Asset managers can still resubmit their applications.
Cathie Wood’s ARK reportedly ‘first in line’ for a spot Bitcoin ETF
ARK Investment Management is reportedly ahead of BlackRock in the race for a spot Bitcoin ETF, as it still has a previous application pending with the United States securities regulator. ARK and 21Shares filed their third application for a spot BTC ETF in April, and amended it this week to include a surveillance-sharing agreement, making it similar to BlackRock’s filing. Since BlackRock’s application on June 16, other investment firms such as Valkyrie, WisdomTree and Invesco have reapplied for spot Bitcoin ETFs.
Binance to lose support of its euro banking partner
Crypto exchange Binance informed users that its current euro banking partner, Paysafe Payment Solutions, will no longer support the exchange after September 25. Binance said it will switch to a new service provider for euro deposits and withdrawals via SEPA bank transfer, though it didn’t name which provider that would be. In recent months, Binance has been facing waves of backlash from regulators around the world, leading to a cessation of operations in various countries.
FTX has recovered $7B in assets so far, has almost $2B to go to cover misappropriations
FTX has recovered about $7 billion in liquid assets so far, and the search for additional assets is continuing, according to an interim report released June 26. The extensive commingling of funds complicates their efforts, however. The FTX Debtors, made up of FTX and affiliates, currently estimate the amount of misappropriated customer assets at $8.7 billion. Most of that money, about $6.4 billion, was in fiat and stablecoins. The former FTX leadership “did not commingle and misuse customer deposits by accident,” the report alleged.
3AC liquidators look to recoup $1.3B from founders
Teneo, the liquidator behind bankrupt hedge fund Three Arrows Capital (3AC) is seeking to recover roughly $1.3 billion in funds from its founders Su Zhu and Kyle Davies. The debt reportedly incurred when 3AC was already insolvent, adding to creditors’ losses. The company owed creditors $3.5 billion, making the founders’ potential liability more than a third of the total debt. Davies and Zhu have maintained active social media profiles, but their physical whereabouts are unknown, delaying the liquidation process. Both 3AC founders have received digital subpoenas during the bankruptcy proceedings. To date, they have not cooperated.
SEC calls ETF filings inadequate, Binance loses euro partner and other news: Hodler’s Digest, June 25 – July 1
Top Stories This Week
US SEC deems spot Bitcoin ETFs filings as inadequate
There may be a longer wait for a spot Bitcoin exchange-traded fund (ETF) in the United States, as the Securities and Exchange Commission labeled investment managers’ recent applications inadequate. The SEC told the Nasdaq and the Chicago Board Options Exchange that their filings are not “sufficiently clear and comprehensive.” The regulator returned the filings, citing the lack of information regarding the proposed surveillance-sharing agreement. Asset managers can still resubmit their applications.
Cathie Wood’s ARK reportedly ‘first in line’ for a spot Bitcoin ETF
ARK Investment Management is reportedly ahead of BlackRock in the race for a spot Bitcoin ETF, as it still has a previous application pending with the United States securities regulator. ARK and 21Shares filed their third application for a spot BTC ETF in April, and amended it this week to include a surveillance-sharing agreement, making it similar to BlackRock’s filing. Since BlackRock’s application on June 16, other investment firms such as Valkyrie, WisdomTree and Invesco have reapplied for spot Bitcoin ETFs.
Binance to lose support of its euro banking partner
Crypto exchange Binance informed users that its current euro banking partner, Paysafe Payment Solutions, will no longer support the exchange after September 25. Binance said it will switch to a new service provider for euro deposits and withdrawals via SEPA bank transfer, though it didn’t name which provider that would be. In recent months, Binance has been facing waves of backlash from regulators around the world, leading to a cessation of operations in various countries.
FTX has recovered $7B in assets so far, has almost $2B to go to cover misappropriations
FTX has recovered about $7 billion in liquid assets so far, and the search for additional assets is continuing, according to an interim report released June 26. The extensive commingling of funds complicates their efforts, however. The FTX Debtors, made up of FTX and affiliates, currently estimate the amount of misappropriated customer assets at $8.7 billion. Most of that money, about $6.4 billion, was in fiat and stablecoins. The former FTX leadership “did not commingle and misuse customer deposits by accident,” the report alleged.
3AC liquidators look to recoup $1.3B from founders
Teneo, the liquidator behind bankrupt hedge fund Three Arrows Capital (3AC) is seeking to recover roughly $1.3 billion in funds from its founders Su Zhu and Kyle Davies. The debt reportedly incurred when 3AC was already insolvent, adding to creditors’ losses. The company owed creditors $3.5 billion, making the founders’ potential liability more than a third of the total debt. Davies and Zhu have maintained active social media profiles, but their physical whereabouts are unknown, delaying the liquidation process. Both 3AC founders have received digital subpoenas during the bankruptcy proceedings. To date, they have not cooperated.