SGT 0815
📈 BTC | $62,922 (+$1,761, +2.9%)
📈 ETH | $4,209 (+$108, +2.6%)
📈 XRP | $1.09 (+$0.01, +1.0%)
📈 LTC | $195 (+$4, +2.0%)
📈 Total Crypto Market Cap: $2.62T (+3.2%)
🎉 The US market’s new Bitcoin futures ETF ($BITO) has blown past the previous record of fast gains in assets under management (AUM) set 18 years ago by the $GLD Gold ETF, accumulating $1.1 billion in AUM in the first two days of trading.
📊 Open interest on CME Bitcoin futures has accordingly risen +265% from $1.5 billion in end September, to a peak of $5.44 billion this month. This dwarfs the previous peak of just over $3 billion set in February 2021.
🧐 Leverage on crypto derivatives appears ‘healthy’ as well, with over 55% of leveraged positions currently being collateralised by stablecoins/cash as opposed to cryptocurrencies. April’s selloff was made worse thanks to an estimated 70% of all futures positions being collateralised with cryptocurrencies, creating a massive sell-off spiral.
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.