Bluehelix is the leading DeFi Services & Tech Provider and is dedicated to providing world-class professional financial trading and assets management services. Bluehelix has businesses of BHEX Exchange, Bluehelix Cloud, and Bluehelix Chain. The in-house developed Bluehelix decentralized blockchain-based assets custody and clearing system serves more than 120 BlueHelix Cloud Partners with 5 million end-users with custody of more than 6 billion USD worth of assets.
What is Perpetual Contract?
Perpetual contract is a derivative product that is settled in digital tokens such as Bitcoins (BTC). Traders enter either into a long (profit from upward trend) or short (profit from downward trend) position. Available leverage ranges from 1–100x.
Data shows that the number of addresses with at least one bitcoin exceeded 700,000 for the first time.
Founder of Morgan Creek said Bitcoin has better performance than all crypto hedge funds. Shorting Bitcoin is a high-risk investment.
bZx a Decentralized Finance (DeFi) project was exploited for a second time in a week, losing 2388 ETH.
U.S Internal Revenue Service (IRS) has invited crypto firms to a summit on March 3 to participate in a discussion on taxing cryptocurrencies and enforcement efforts.
Grayscale Investments, the largest Bitcoin trust said that 71% of the total amount of crypto investment last year came from institutions. Traditional institutions are increasing their investment portfolio in crypto assets.
The United States announced new sanctions against Russia, US stocks fell sharply and the price of gold rose above 1,600 US dollars.
Market Situation:
The total cryptocurrency market capitalization is U.S. $ 296 billion U.S. dollars (+5.57%) and the 24h trading volume is U.S. $ 174 billion U.S. dollars (-3.34%). Bitcoin rose rapidly this morning and crossed 10,000 US dollars again. Bitcoin is now sitting at a crucial support.
Leading cryptocurrencies have followed the rally of Bitcoin. ETH rose from 260 to 280 and remained strong. LTC led the rebound in leading cryptocurrencies. BCH, EOS, and BSV all showed varying degrees of increase, all have recovered the 20-day moving average. The rally between long and short is, it will continue for quite some time.
Bitcoin rebounded from 9600 and soared to 10200 which was in line with yesterday’s expectation. In the 4H chart BTC eventually bolstered the upper and mid bollinger bands. The 4H MACD double-line formed a golden cross and headed upwards. 10500 is the next key resistance before heading to 11000 mark.
Strategy: Long 10000, Stop Loss 9800, Target 10500.
ETH spiked hitting 280 after landed on 260 yesterday. In the 4H chart, three deviation bollinger bands flattened. ETH entered a rising channel that headed upwards. We may see a new high soon.
Strategy: Long 266, Stop Loss 261, Target 282.
(The above is an opinion, not financial advice)
BHEX BIG DATA: Long Is At Absolute Advantage, Rally On Funding Rate
As of 19 February, 10.30 am (UTC+8), BHEX Big Data shows the ratio of Long & Short position is at 2.28.
Perpetual Contract Funding Rate is 0.0003%;
The total number of BTC Contracts is 90,047,206;
The total number of BTC USDT Contracts transacted is 100,068,308;
54,543,188 BTC Perpetual Contract active Buy orders, and 64,287,652 of Sell orders.
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