Expectations remain strong about the increase in the price of Bitcoin (BTC). Since the main digital currency continues to increase its price daily and at the time of publication it is trading at about USD 16,147 according to our online crypto tool, with an increase of 1% in the last 24 hours. Is a big movement in the price of Bitcoin coming?
Bitcoin (BTC) has been highly volatile in recent weeks, climbing above $ 16,000 for the first time in three years. Which could mean a big movement in the price of Bitcoin is coming. However, the open interest of the futures market indicates that a large volatility peak is likely to be very close.
Bitcoin futures open interest is at an all-time high
Bitazu Capital founding partner Mohit Sorout noted that open interest in Bitcoin futures is at an all-time high. This means that the chances of higher volatility in the short term should not come as a surprise.
Sorout said the “liquidation festival” has not started. Referring to Bitcoin’s tendency to see cascading liquidations after big price movements. Said:
“The aggregate open interest of BTC futures and perpetuals has reached a new all-time high. The liquidation festival hasn’t even started. ‘
BitPay launches massive cryptocurrency payments for businesses
Cryptocurrency payment service provider BitPay has launched BitPay Send. A new massive payment platform for companies, powered by blockchain. BitPay claims that the platform reduces processing times from days to minutes.
BitPay Send allows organizations that do not want to handle or own cryptocurrencies themselves to process crypto payments in bulk. It can be used to complete payroll payments, pay contractors or affiliates, or process customer rewards and rebate programs. Available in 225 countries, recipients only need to go through KYC and have a cryptocurrency wallet.
Some curious facts that maybe you did not know:
- Evangelical church in Switzerland accepts ‘Bitcoin’ offers: ICF Zurich is one of the largest churches in the country. The charismatic congregation has decided to add the alternative digital currency to the other options through which members can give to the church.
- A historic drug trafficker from the Cali cartel falls in Marbella: The detainee, who had been living since the summer of 2018 in a luxury home on the Costa del Sol, specialized in money laundering through cryptocurrencies.
- Local authorities disconnect Bitcoin mining equipment in Carabobo, Venezuela: The state electricity company of Carabobo, one of the 23 states of Venezuela, reportedly disconnected bitcoin and cryptocurrency mining equipment throughout the region. According to an anonymous crypto miner, the state power company, Corpoelec did this in accordance with ‘superior orders’.
- PayPal opens cryptocurrency service to millions of US accounts and increases weekly purchase limit to USD 20,000.
- Tesla and SpaceX CEO Elon Musk said Friday that “something extremely false is happening.” After four rapid Covid-19 antigen tests he performed returned different results, two positive and two negative. Musk has long been a skeptic about Covid-19.