Bitcoin’s Bearish September Has Kneecapped Crypto ETP Activity: Report

Half of September has passed and bitcoin traders are curious about where the price is headed next, as September is traditionally a bearish month for crypto prices. Furthermore, October is known to be a bullish month as bitcoin has been profitable in October more than 77% of the time. Data shows the leading crypto asset’s price trend may not break September’s historical trends, but very well could see a revival next month. Bitcoin Traders Patiently Wait for September to End This month’s bitcoin price data indicates that bitcoin (BTC) is following the same trend it has....

A U.S. consumer survey by investing powerhouse Deutsche Bank provides “bullish” insights into the crypto market. As an unlikely but welcomed source of hope during crypto market jitters, Deutsche Bank’s report, the “Future of Cryptocurrencies,” sheds light on potentially bullish cryptocurrency activity. A survey critical to the report suggests that neither traders nor investors are likely to part with their crypto holdings in the event of a bear market. Marion Laboure, a director of macro strategy at Deutsche Bank, told Cointelegraph:“It is interesting to note the deep bullishness for....

Kraken has identified a decreasing correlation between Bitcoin and the legacy financial markets. A report published by major U.S.-based crypto exchange Kraken has identified signs the correlation between Bitcoin (BTC), the greenback, and legacy markets, is continuin to weaken.Kraken’s September volatility report found Bitcoin (BTC) largely maintaining a negative correlation with the U.S. Dollar Index (DXY) since May, despite a brief coalescence between the two markets in early September. Bitcoin's 30-day rolling correlation with U.S Dollar Index: KrakenThe report attributes BTC’s dollar....

Quarterly returns on Bitcoin haven’t been this bad since it was trading under $20 in the early days of Mt. Gox, but the stock market isn’t faring so hot either. Bitcoin (BTC) has seen its worst quarterly loss in 11 years with price and activity on the blockchain both plunging over the last three months. The second quarter ending June 30 saw Bitcoin’s price fall from around $45,000 at the start of the quarter to trade at $19,884 before midnight ET on June 30 according to CoinGecko, representing a 56.2% loss according to crypto analytics platform Coinglass. It’s the steepest price fall since....

Cryptocurrency ETP volumes continue to drop as long-term investors look for safer options during Bitcoin’s dry spell. According to a recent report by CryptoCompare, a digital asset data resource, aggregate trading volumes exchange traded products (ETP) have plummeted drastically in the month of September. Aggregate ETP Volume ($millions) Source: CryptoCompareOverall daily cryptorrency ETP volumes plunged by roughly 74%, dropping from $186.5 million exchanged in mid-August to an average of $48 million in mid-September. Grayscale volumes take a hitGrayscale’s Bitcoin Trust product represents....