Cboe Unveils Bitcoin and Ethereum Futures Amid Rising Institutional Interest

Press Review: Recent Developments in the Cryptocurrency Market

Cboe Global Markets, a derivatives exchange, is set to launch "Continuous Futures" contracts for Bitcoin and Ethereum on November 10, pending regulatory approval. These contracts will offer US traders long-term contracts with a duration of 10 years, simplifying position management by eliminating the need for regular rolling, which is typical in traditional futures. Catherine Clay, Global Head of Derivatives at Cboe, noted that this move brings a popular trading product from the crypto space to the US market, marking a significant return to crypto products for Cboe after a previous withdrawal.

"Perpetual-Style Futures have gained significant traction in offshore markets. Now, Cboe is bringing this benefit to our US-regulated futures exchange," said Catherine Clay.

Source: BTC-ECHO

Ethereum is reportedly on the verge of a significant breakout, with analysts suggesting a potential rally to $6,000. The cryptocurrency is closely following Bitcoin's movements, which is nearing a breakthrough above $113,000. Technical analysis indicates a bullish "Falling Wedge" pattern for Ethereum, historically associated with strong upward movements. Crypto analyst Crypto Rover has set a mid-term target of $6,000 for Ethereum, which could yield substantial profits if Bitcoin successfully fills the CME gap at $116,000.

Market conditions, particularly upcoming inflation data from the US, are critical. Higher-than-expected inflation could lead to market corrections, while lower figures might prompt the Federal Reserve to consider interest rate cuts, potentially boosting the crypto market.

Source: FinanzNachrichten.de

In a notable trend, institutional investors are reportedly withdrawing Ethereum from exchanges at an unprecedented rate. Over 4 million ETH, valued at approximately $17 billion, have been transferred to large wallets in just five days, indicating strong long-term confidence in Ethereum. The amount of ETH held on exchanges has dropped to a three-year low, with significant accumulations by firms like Bitmine, which recently increased its holdings by 46,255 ETH, now totaling over 2.1 million ETH worth $9.27 billion.

On-chain data supports this bullish sentiment, with Ethereum processing 1.67 million transactions daily and generating substantial fees. Additionally, 29.4% of the total ETH supply is locked in staking contracts, further reducing the available trading pool.

Source: Börse Express

Tom Lee, co-founder of Fundstrat, has made a bullish prediction for Ethereum, suggesting it could reach $62,000 in a potential supercycle. He emphasizes that Ethereum's integration into institutional finance, its role in the tokenization of assets, and its connection to artificial intelligence are key drivers of this growth. Lee describes Ethereum as "digital oil," essential for both Wall Street and future AI applications, and believes that even a 20% market share in US payment infrastructures could propel its price significantly.

Source: 99Bitcoins

In summary, the cryptocurrency market is witnessing significant developments, particularly for Ethereum, with institutional interest growing and potential price surges on the horizon. The upcoming regulatory changes and macroeconomic factors will play a crucial role in shaping the market's future.

Sources: