Hashbx Global

Whale Drives Ether-Bitcoin Volatility Spread Lower Ahead of Options Expiry
The spread has flipped negative with consistent institutional selling of ether calls. Some of these positions could be rolled over ahead of Friday's expiry, leading to captivating shifts in volatility, crypto exchange Deribit said.

Options contracts tied to ether (ETH) worth $2.3 billion are set to expire on dominant crypto derivatives exchange Deribit this Friday.
Ahead of the pivotal quarterly settlement, the market is witnessing a low spread between Deribit's forward-looking 30-day implied volatility index for ether (ETH DVOL) and bitcoin (BTC DVOL).
According to Deribit, the negative spread indicating relative ether stability results from an increased institutional interest in "overwriting" or selling ether call options. The dynamic has set the stage for major market shifts around Friday's expiry.

Cr.https://www.coindesk.com/
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BlackRock Bitcoin ETF Is the ‘Real Deal’—Is This Finally the One?
For 10 years, crypto startup after crypto startup has tried its luck with the SEC. Now Wall Street’s heaviest hitter is lending its weight.

If you think something is out of the ordinary when one of the world’s most prestigious financial institutions applies for a cryptocurrency investment product during a tough regulatory crackdown, you wouldn’t be the only one.

BlackRock, which manages $9.5 trillion in assets, rocked the crypto world yesterday when it applied to the U.S. Securities and Exchange Commission for a Bitcoin exchange-traded fund (ETF). Though the product is technically a trust, as several eagle-eyed observers on Crypto Twitter have pointed out, it is functionally the same as a true blue ETF, experts say.

It’s the “real deal,” according to Senior ETF Analyst at Bloomberg Eric Balchunas, who defended the “ETF” label yesterday on Twitter. Balchunas also pointed out that BlackRock is nearly undefeated when going up against the SEC, at 575-1, with nearly every single one of its ETF applications receiving the Commission’s blessing. Other Bitcoin ETF applicants over the years can’t say the same.

Cr.https://decrypt.co/
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Bitcoin price chart flashes a bullish sign that could lead to breakouts in ADA, QNT, RNDR and RPL
BTC’s chart is beginning to look bullish, and ADA, QNT, RNDR and RPL could rally if Bitcoin price breaks out to the upside.

The United States equities markets welcomed the debt ceiling deal and the May nonfarm payrolls data on June 2 with strong rallies. The S&P 500 rose 1.8% during the week while the tech-heavy Nasdaq was up 2%. This was the sixth successive week of gains for the Nasdaq, the first such occasion since January 2020.

In addition to the above, the expectation that the Federal Reserve will be in a pause mode during its next meeting may have acted as a catalyst for the rally. CME’s FedWatch Tool is showing a 75% probability of a pause, with the remaining 25% expecting a 25 basis points hike at the June 14 meeting.

Cr.https://cointelegraph.com/
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Bitcoin, Ethereum bears are back in control — Two derivative metrics suggest
Given the uncertainty in the macroeconomic environment, Bitcoin price bulls have no reason to bet against a six-week descending wedge pattern.

A bearish market structure has been pressuring cryptocurrencies’ prices for the past six weeks, driving the total market capitalization to its lowest level in two months at $1.13 trillion. According to two derivative metrics, crypto bulls will have a hard time to break the downtrend, even though analyzing a shorter timeframe provides a neutral view with Bitcoin

on average, gaining 0.3% between May 12 and May 19.

Cr.https://cointelegraph.com/
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