Bitcoin and other cryptos rallied as Musk boosted bullish sentiment during The B Word conference.
Clients are in the process of being set up, with some already live, according to one of two sources.
Bitcoin sentiment is improving despite profit taking into July.
Bitcoin’s near 50% decline from all-time highs surprised analysts as China’s crackdown fueled bearish sentiment.
The Arcane Research report says this downward trading indicates institutional investors are being “cautious” at the moment.
CME's bitcoin futures goes into "backwardation" and BTC inflows to exchanges rise as China "FUD" continues.
Some analysts are optimistic while others prefer to see stronger signs of upside momentum before calling a bottom.
Open interest rose to $13.1 billion after being in the $10.5 billion to $13 billion range.
It's another sign of bitcoin's bearish trend.
Pessimistic news isn’t stopping the crypto spot markets from looking bullish Wednesday.
The declining futures premium indicates uncertainty about bitcoin following a 35% correction in May and another 12% drop already this month.
BTC had climbed from $35,709 to as high as $42,441. Then the slide started.
SEC staff intend to determine whether the "bitcoin futures market could accommodate ETFs," the note said.
The bank will protect itself from the cryptocurrency’s volatility by buying and selling bitcoin futures in block trades.
Sophisticated actors are taking from amateur investors in bitcoin derivatives trading, according to Carnegie Mellon researchers using data from BitMEX.