HomeNewscoinquora.comGoldman Sachs Jumps into Bitcoin Futures, Signals Bull Run

Goldman Sachs Jumps into Bitcoin Futures, Signals Bull Run

- Advertisement -


Goldman Sachs Jumps into Bitcoin Futures, Signals Bull Run
Bitcoin News

  • Goldman Sachs executed the first Bitcoin Futures and Options block trade in Asia.
  • Bitcoin is trading sideways in a triangular range.
  • The transaction is the first-ever intermediated block trade of the CME Group Bitcoin options contracts in the Asian markets.

While Bitcoin and Ethereum are reeling from the recent bloodbath and collapse of crypto lenders and VCs, Goldman Sachs jumped into Bitcoin Futures trading. The leading global investment bank recognized the opportunity that the asset class offers and executed the first block trade of Bitcoin futures in Asia.

The trade was intermediated by GFI Securities LLC, a subsidiary of brokerage provider BGC Partners. The Bitcoin Futures block trade is a watershed moment for BTC holders because this marked the first occasion when CME Group Bitcoin options contracts were traded in the Asian market.

Brad Howell, CEO of Asia Pacific for BGC, was optimistic about partnering with Goldman Sachs. Howell was quoted as saying:

This transaction marks BGC’s continued commitment to expanding our cryptocurrency offering and to working with our global counterparties in developing this rapidly evolving asset class.

While crypto investment firms and VCs are retracting from cryptocurrencies and the risk introduced by the asset class in an investors’ portfolio, Goldman Sachs has shown interest in Bitcoin. Back in December 2021, Goldman pioneered the use of Bitcoin as collateral for offering loans to institutions.

Bitcoin price chart reveals the formation of a triangular pattern. After consistent consolidation for the past eight weeks, Bitcoin’s price has recovered from the slump. The bullish upside target in a massive price rally is $28,604. Bitcoin price is expected to continue its uptrend.

BTC-USD Price Chart (Source: TradingView)
BTC-USD Price Chart (Source: TradingView)

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies





Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 17,006.70
ethereum
Ethereum (ETH) $ 1,259.34
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 111.24
litecoin
Litecoin (LTC) $ 79.62
eos
EOS (EOS) $ 0.932244
okb
OKB (OKB) $ 21.25
tezos
Tezos (XTZ) $ 1.02
leo-token
LEO Token (LEO) $ 3.90
cardano
Cardano (ADA) $ 0.317384
monero
Monero (XMR) $ 144.72
stellar
Stellar (XLM) $ 0.086169
chainlink
Chainlink (LINK) $ 7.22
huobi-token
Huobi (HT) $ 6.58
tron
TRON (TRX) $ 0.052862
usd-coin
USD Coin (USDC) $ 0.999899
dash
Dash (DASH) $ 46.57
neo
NEO (NEO) $ 7.10
iota
IOTA (MIOTA) $ 0.212163
nem
NEM (XEM) $ 0.032847
zcash
Zcash (ZEC) $ 46.07
maker
Maker (MKR) $ 634.79
paxos-standard
Pax Dollar (USDP) $ 0.999047
ethereum-classic
Ethereum Classic (ETC) $ 19.43
vechain
VeChain (VET) $ 0.01917
true-usd
TrueUSD (TUSD) $ 1.00
kucoin-shares
KuCoin (KCS) $ 6.52
waves
Waves (WAVES) $ 2.47