Key metrics of Bitcoin and Ethereum options show that traders are extremely bullish

The price of the Ethereum is now the focus of attention, but option data shows that professional traders are still extremely bullish about the price of Bitcoin.

In the last few days, the price of Bitcoin (BTC) has underperformed Ether (ETH) by almost 20%. Although BTC seems to be struggling to break through the $18,800 barrier, both cryptosystems show the same upward trend according to data from the derivatives markets.

Bitcoin’s performance is outperforming the 2016 halving that caused the all-time high of USD 20,000

Ether is entering a parabolic upswing as the launch of her Eth2 network approaches, and this optimism is reflected in the option markets. Despite the lack of similar price action from BTC, Bitcoin traders don’t seem to be worried and the data shows they’re still extremely bullish.
Ether and BTC futures contracts are still bullish

Analyzing the base indicator is a very useful thing, as it compares the level of futures contracts with the current price on spot (regular) exchanges.

The US dollar is weakening and BTC is approaching $19,000: 5 things to watch out for on Bitcoin this week

Healthy markets usually have an annualized basis of 5% to 10%, this situation is known as contango. On the other hand, discounted counter-futures trading usually occurs during strongly bearish markets.

The basis of Ether’s futures has ranged from 10% to 20%, therefore we can infer that there are bullish expectations. Instead of leaving his Ether holdings in a derivatives exchange, the seller preferred to use them to make a stake. Therefore, it is natural to demand a premium for the operation.

3 reasons why the price of Ethereum is close to USD 600

The BTC futures premium has performed similarly, despite today’s negative performance. If traders had given up expectations of a continuous bull run, this indicator would have sunk below 10% annualized.

There is only one reason for a trader to pay such a costly premium on a futures contract, and that reason is the upside. This indicator can be interpreted as a tax on maintaining long leveraged positions.
Options traders are not interested in opening bearish positions

The 25% delta slope also provides useful information on the sentiment and posture of professional traders.

A delta inclination of +25% indicates that put options are more expensive than similar call options, indicating bearish sentiment. On the other hand, a -25% slope suggests an upward trend.

Follow these 4 tips to avoid being the victim of phishing attacks

The indicator usually ranges from -20% to + 20% in neutral markets, although this has not been the case for Ether in recent weeks.
Inclination of 25% of the delta of ETH’s 3-month futures contracts. Source: Skew

See how Ether’s futures base touched extreme levels of optimism on November 21st, which is very unusual.

This data suggests that option traders are not willing to sell upward protection. At -20%, the tilt indicator indicates that derivatives investors are still bullish despite the 28% rally over the last seven days.

We should expect BTC option traders to be a little less bullish after today’s negative performance, but this has not been the case.

The data shows that BTC option traders are remarkably optimistic, regardless of how difficult the last few days have been. Therefore, there are no signs of a change in sentiment coming from the derivatives markets.

Binance outperforms Huobi and OKEx, positioning itself as the largest derivatives exchange

Although there are many ways to read the same graph according to the technical analysis, BTC has not exactly transpired optimism.

Traders who prefer shorter time frames may have a bearish interpretation of the recent price action. Meanwhile, professional investors know how unpredictable the BTC markets are. Therefore, they are not willing to reduce their positive expectations on a whim.

Key metrics show that institutional demand for Bitcoin is growing rapidly

For now, there seems to be no reason to doubt Bitcoin’s upward momentum. Although Ether has outgrown it, traders are showing the same confidence for both cryptosystems.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and movement

CVM marks judgment of Unick Forex financial pyramid for December

More than one after the end of the company and the arrest of those involved, Unick Forex begins to answer for his crimes before the CVM.

CVM marks trial of Unick Forex financial pyramid for DecemberNOTÍCIAS

The Brazilian Securities Commission (CVM) will begin judging one of the country’s largest financial pyramids on December 8: Unick Forex.

Former Unick Forex leaders promote new company that promises 100% ‚profits
The autarchy should begin to judge the actions of three partners of the company, which was closed just over a year ago in a Federal Police operation: Leidimar Lopes, Albieri Lopes and Fernando Lusvarghi.

At the time of the police operation, the partners and the so-called „leaders“ of the company were all arrested, suspected of acting in the pyramid that left a trail of more than R$ 12 billion in embezzlement.

The case against Unick Forex was opened in April 2019 by the Superintendency of Market and Intermediaries Relations (SMI). The CVM had already warned of Unick Forex’s irregular performance, which offered „investments“ in Bitcoin and promised huge returns.

Due to the pandemic, the trial will be by videoconference.

Federal Public Ministry dismantled scheme
Unick Forex is another of the huge financial pyramids of Bitcoin dismantled by the Brazilian authorities in 2019. Among the cases of suspected fraud companies that left losses in excess of billions of reais, we can also mention the Bitcoin Banco Group and Atlas Quantum.

MP opens civil action against Unick and companies that promised revenues with BTC
Unick, which was based in Vale dos Sinos, Rio Grande do Sul, offered profits of up to 400% through investments in cryptomoedas. Like all pyramids of this type, when the entry of new customers cooled, the company began to block lootings from investors and claim problems in the system.

However, the company’s excuses were short-lived. In October 2019, the Federal Police brought down the R$12 billion pyramid and arrested everyone involved, which represented the end of the company. The customers continue without receiving until today.

Partners are loose
Despite the deal that caught those involved with Unick Forex in 2019, more than a year later all the partners of the company are loose. The company had already been in the sights of the authorities since 2017, when banks began reporting suspicious moves.

The public prosecutor even held an auction of the company’s luxury cars in October 2020, but gave no further details about the funds raised and compensation for those harmed by Unick’s crimes.

Telephone tapping reveals that Fernando Salomon tried to strike a blow at Leidimar Lopes in the management of Unick Forex
In an audio leak in March 2020, the leader of the scheme, Leidimar Lopes, complained of the deflated customers „begging“ for R$ 100,000.

Among the findings of the MP’s investigations, the authorities say that Unick even tried to buy a bank and planned to approve the deal with Banco do Brasil with the collaboration of a lobbyist.

With the end of Unick Forex, a legion of „leaders“ – as affiliates who attracted clients to the scheme were known – of the company began to operate in other suspected financial pyramid companies, including MoGuRo.

Unick Forex and its partners also had a hearing scheduled to answer financial crime charges before the courts in the first half of this year, but the pandemic eventually led to a postponement of the case.

15,5 millions de dollars de „bitcoins dormants“ ont été réveillés samedi : Rapport

Cette transaction est la dernière en date d’un certain nombre de mouvements récents de portefeuilles de la CTB qui sont restés inactifs pendant 10

Selon des chercheurs de Btcparser.com

Le 7 novembre à 12h37 HNE, les observateurs de la chaîne de blocage des bitcoins ont noté qu’un certain nombre de bitcoins ont été déplacés d’un portefeuille qui n’avait pas été déplacé depuis 2010. Selon des chercheurs de Btcparser.com, environ 1000 „Bitcoins dormants“, totalisant environ 15,5 millions de dollars, ont été envoyés en une seule transaction.

Le propriétaire de la CTB a également envoyé le BCH correspondant, d’une valeur d’environ 250 000 dollars. Cependant, l’expéditeur n’a pas touché le BCH associé aux pièces.

2020 : L’année des pièces zombie

Après que la transaction principale ait été envoyée à une seule adresse, l’adresse de réception a envoyé des parties du stock à plusieurs autres adresses.

On estime qu’il y a environ 1,5 à 1,8 millions de Bitcoins qui sont considérés comme des „pièces dormantes“ ou „pièces zombies“ de l’ère Satoshi, ce qui signifie qu’elles ont été actives pour la dernière fois pendant la période où le créateur de Bitcoins, Satoshi Nakamoto, était actif dans l’espace.

Ce dernier mouvement de „pièces zombie“ n’est qu’un des nombreux cas similaires qui ont eu lieu cette année.

Par exemple, le 11 mars, Bitcoin.com a signalé qu’un bloc de récompense gagné en 2010 d’une valeur de 1 050 BTC avait été transféré, aux côtés des BCH et BSV correspondants. 151 jours plus tard, une autre récompense en bloc a été transférée le 11 octobre, avec le BCH correspondant.

Depuis lors, au moins quatre autres récompenses en bloc de 2010 ont été envoyées pour la première fois en 10 ans ; les 17, 25, 29 octobre et 1er novembre, environ 200 CTB de 2010 ont été transférées. news.Bitcoin.com indique que ces dernières semaines, environ 80 récompenses en bloc de 2010 ont été déplacées ; la valeur totale des pièces valait plus de 62 millions de dollars au moment de la mise sous presse.

On ignore qui contrôle les pièces, pourquoi elles sont soudainement déplacées après dix ans, ou si elles sont vendues à d’autres revendeurs Bitcoin. Cependant, le mouvement haussier de Bitcoin, qui a dépassé les 15 500 dollars la semaine dernière, pourrait indiquer que celui qui est en charge des pièces se prépare à les vendre si la reprise se poursuit.

Bitcoin: its birth, its 12 years of existence and its future

IN BRIEF

  • It has been 12 years since the Bitcoin white paper was published, created by Satoshi Nakamoto.
  • BeInCrypto has chosen to celebrate this anniversary with a retrospective article on the evolution of BTC and its mission in the relationship between humanity and money.
  • The creation of Bitcoin is and will remain a key moment in modern monetary history.

Twelve years have passed since the publication of the Bitcoin White Paper. Entitled „Bitcoin: A Peer-to-Peer Electronic Cash System“ and published by the mysterious Satoshi Nakamoto on 31 October 2008, it is one of the most transcendental documents in the history of money. More than ten years later, this white paper is still the source of in-depth studies, interpretations and, most of all, unanswered questions.

A peer-to-peer e-money system

Talking about the history of Bitcoin is quite complicated and can be confusing. This is mainly because Bitcoin is not a „thing“ being a by-product of the evolution of something else. Indeed, the core of how Bitcoin works was the result of the adjustment of different principles and sciences that had never been approached in the same way as when it was created. In other words, Bitcoin is a creation derived from the combination of different functionalities that were never brought together, nor were they planned for the purpose that Bitcoin was intended to achieve.

However, given the definition of Bitcoin’s main document, and the inclusion of „peer-to-peer electronic payment system“ in its title, this review provides an excellent starting point. According to this information, Bitcoin was probably intended to meet the definition described in its title. And for this type of purpose, fortunately, there is a history.

A starting point from Milton Friedman

In 1999, Nobel Prize-winning economist Milton Friedman gave an interview to the National Taxpayers Union (NTU). In it, he revealed an idea very close to what Bitcoin is proposing today.

His comments, which seem perfectly synchronised with the white paper that Satoshi Nakamoto published 9 years later, are as follows:

The only thing missing, but soon to be realised, is the real e-caisse. A method by which, on the internet, you can transfer money from A to B, without A knowing B or B knowing A. In the same way, I take a 20 dollar note and give it to you without any trace of where it came from; and you could receive it without knowing who I am.

In his words, Milton Friedman probably proved to be the best and most reliable antecedent of Bitcoin. An antecedent born from a simple thought constructed by one of the world’s greatest economic minds. A thought that was able to describe Bitcoin 9 years before its birth, with a predictive dimension.

Birth of Bitcoin

On Friday 31 October, at 14:10 EDT, the post that changed everything was published by the mailing list „The Cryptography Mailing List“. Entitled „Bitcoin P2P e-cash paper“, the person(s) behind Satoshi Nakamoto’s pseudonym shared an idea based on a „new digital money system“ that would unveil the nomination and founding of Bitcoin for the first time in history.

I worked on a new electronic payment system that is totally peer-to-peer, with no trusted third party.

The document is available at the following address:

https://www.bitcoin.org/bitcoin.pdf

 

Its main properties :

 

Avoid double expenditure with a peer-to-peer network.
There are no entities or other trusted third parties.
Participants can be anonymous.
New parts are issued from a proof of work test in „Hashcash“ style.
The proof of work for the generation of new parts also allows the network to avoid double expenditure.

Excerpt from Satoshi Nakamoto’s original publication where he first shared the Bitcoin project.

The idea was interesting for many cryptography enthusiasts, as Bitcoin was closely related to this science. Similarly, the applications given to „Proof-of-Work“, data storage, and the complete operation of Bitcoin itself presented very coherent and innovative solutions in the field of cryptography at the time. Thanks to the interest gathered, Satoshi ended up working with colleagues on his new project.

On January 8, 2009, just over two months after publication, words turned into deeds: the mysterious creator mined the first block of Bitcoin, with a reward of 50 new BTCs sent to 12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX, and generated from the entire process described by Satoshi in his first article. A milestone in the modern history of money.

A curious detail, the description of this first block in code contains the headline of The Times newspaper corresponding to January 3, 2009, which announced „(British) Chancellor plans second bank rescue programme“. Apparently, Satoshi called to protest against the excessive printing of money at the time, as a rescue package for the financial collapse of 2008. Bitcoin came at the exact moment when the system of trust was collapsing, with the aim of separating money from the state once and for all.

Bitcoin’s first transaction and its beginnings of exchange

On January 12, 2009, Hal Finney became the first recipient of a peer-to-peer Bitcoin transaction. And yes, it was Satoshi Nakamoto who sent him the first BTCs used for the purpose for which they were created. Finney, on the other hand, became the first person to use the Bitcoin software, and he ended up being one of the main developers of the project during the first year of Satoshi’s creation.

At the end of the same year of creation, more precisely on October 5, the New Liberty Standard was created. Known as Bitcoin’s first buying and selling service, which quoted the cryptom currency for the first time against the dollar at a rate of 1,309.03 BTC for every US dollar.

From then on, Bitcoin’s expansion began to accelerate incredibly: Satoshi Nakamoto created the Bitcointalk space in November 2009, setting up a forum to talk about Bitcoin and encourage its development. In February 2010, the Bitcoin Market, one of the first major platforms for buying and selling Bitcoin using traditional payment methods, was published in this forum.

On 18 July 2010, through the same forum, the mythical Mt Gox was announced, preceded by Jed McCaleb, giving meaning to Bitcoin’s first major trading platform. It also introduced volume values, maximum prices, minimum prices and trading positions; with it, the first steps of the big industry around Bitcoin were laid down to become what we know today. On 12 December 2010, Satoshi Nakamoto published his latest message on the Internet via Bitcointalk. After that, we never heard from him again.

Bitcoin: his future

From a technical point of view, and from the creator’s point of view throughout the history of the project, Satoshi Nakamoto would be proud of what Bitcoin is today. With a current capitalization of $250 billion, Bitcoin preceded an industry that today boasts nearly $400 billion, more than 7,000 different types of crypto-currency and tokens, and countless other companies that generate thousands of jobs and billions of dollars in profits and investment.

Of course, beyond the references to currency, it has managed to deliver what it promised: a new, censor-resistant, inflation-resistant, decentralised, sovereign, portable and digital monetary system that has been maintained for 12 years without any major jolts that might cast doubt on what it has come to achieve in the world.

Today, more than two major companies consider Bitcoin to be insurance against traditional economic collapse. Others are seeking to be part of a new harmonious integration that will allow them to link fiduciary money to decentralised cryptographic money. In truth, Bitcoin is a word known worldwide, with exponential growth in its usability. Thanks to its 12 years of life, it leaves an excellent perspective for the next few centuries that mankind foresees in its relationship with the new money.