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SGT 0800
📉 BTC | $60,811 (-$91, -0.2%)
📉 ETH | $4,067 (-$82, -2.1%)
📉 XRP | $1.08 (-$0.01, -0.8%)
📉 LTC | $190 (-$3, -1.4%)
📉 Total Crypto Market Cap: $2.54T (-0.9%)
📉 Bitcoin has broken below several perceived levels of support on the way down from its latest all-time high at $66,999. Ultimately, the token’s rally for the month of October has been nothing short of remarkable, rising over 40% so far.
🏦 State Street – one of the oldest banks in the USA with over $42 trillion in assets under custody, has been seeing triple-digit growth in its digital assets unit, which was just set up sometime this June.
🤔 The developments around the USA’s first Bitcoin futures ETF has made for some interesting reading. For every dollar allocated to the ETF, 40.2% goes to near-dated CME bitcoin futures, 31.2% for the month after that, and around 28.2% goes into US Treasury bills. Thus, market watchers have been somewhat able to deduce the ETF’s impact on the Bitcoin futures market, with some estimating that around 13.8% of CME’s Bitcoin open interest being attributable to the ETF currently. More interestingly, this does not fully account for recent spikes in open interest, making up only around half – suggesting that the launch of the futures ETF has sparked even more participation in the Bitcoin futures market.
Cryptocurrency CFD is available for trading on Phillip MetaTrader 5 (MT5).
Features of trading CFD
- Trade in both the bull and the bear markets
The ability to enter a long and/or short position allows traders to take advantage of both rising and falling markets. - Smaller barrier to entry
CFDs typically have flexible and smaller contract sizes. This means that traders will be able to enter into a CFD contract with a modest amount of capital. - No expiration date or risk of delivery
Unlike futures which commonly have a fixed expiration date, CFDs allow traders to perpetually hold the position(s). CFDs are cash settled, no need to worry about the delivery of the underlying asset.
Trade Bitcoin, Ethereum, Litecoin, and Ripple CFDs at zero commission on Phillip MetaTrader 5, a dynamic platform that offers low spreads. Integrated with Acuity Signal Centre and Trading Central Indicators, and available on mobile, web and desktop app, you will never miss a trading opportunity with Phillip MT5.
Download Trading Central’s Market Buzz for updates on more topics.
What’s more? Phillip MT5 is now supported on Mac OS! To install, simply download the file below and complete a simple installation process.
