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Crypto Shuttle News

Tag: options

  • Broadening Investment Options for French Users

    Broadening Investment Options for French Users

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    N26 has launched N26 Crypto, a new cryptocurrency trading
    product aimed at optimizing the customer experience in France. This latest
    offering enables N26 customers in France to invest in over 200 cryptocurrencies
    directly through the N26 application.

    The introduction of N26 Crypto signifies the company’s focus
    on providing accessible and efficient cryptocurrency investment options to its
    clientele. Eligible clients with French or German IBANs can access N26 Crypto
    across all membership tiers, including free accounts, without incurring
    additional costs.

    According to the firm, transparency and security are
    paramount in N26 Crypto’s design. Users will have clear insights into their
    cryptocurrency portfolios and transaction histories within the application. N26 emphasizes adherence to
    regulatory requirements and industry standards to ensure a compliant and secure
    trading environment.

    N26 has partnered with Bitpanda GmbH to
    develop and launch N26 Crypto, ensuring robust execution of trades and custody
    of assets. This partnership underscores N26’s dedication to delivering reliable
    cryptocurrency services to its customers.

    Introduction of N26’s New Trading Product in Austria

    Earlier, N26
    introduced a new trading product accessible through its mobile banking app,
    starting with a rollout in Austria, as reported by Finance Magnates. The product
    enables users to trade stocks and ETFs. Notably, it features a fixed fee of
    0.90 EUR per trade, aiming for competitive pricing. This move marks a
    significant step for the digital bank into the investment arena.

    Notably, fractional share investing from as low as 1 EUR
    enhances accessibility for smaller investors. The launch features over 100
    ETFs, with plans to expand to over 1,000 stocks and ETFs in Germany and
    Austria. Future developments include free savings plans, diversifying N26’s
    offerings. Eligible Austrian customers will gain access first, with German
    expansion slated in the coming months, followed by further European markets.

    N26 has launched N26 Crypto, a new cryptocurrency trading
    product aimed at optimizing the customer experience in France. This latest
    offering enables N26 customers in France to invest in over 200 cryptocurrencies
    directly through the N26 application.

    The introduction of N26 Crypto signifies the company’s focus
    on providing accessible and efficient cryptocurrency investment options to its
    clientele. Eligible clients with French or German IBANs can access N26 Crypto
    across all membership tiers, including free accounts, without incurring
    additional costs.

    According to the firm, transparency and security are
    paramount in N26 Crypto’s design. Users will have clear insights into their
    cryptocurrency portfolios and transaction histories within the application. N26 emphasizes adherence to
    regulatory requirements and industry standards to ensure a compliant and secure
    trading environment.

    N26 has partnered with Bitpanda GmbH to
    develop and launch N26 Crypto, ensuring robust execution of trades and custody
    of assets. This partnership underscores N26’s dedication to delivering reliable
    cryptocurrency services to its customers.

    Introduction of N26’s New Trading Product in Austria

    Earlier, N26
    introduced a new trading product accessible through its mobile banking app,
    starting with a rollout in Austria, as reported by Finance Magnates. The product
    enables users to trade stocks and ETFs. Notably, it features a fixed fee of
    0.90 EUR per trade, aiming for competitive pricing. This move marks a
    significant step for the digital bank into the investment arena.

    Notably, fractional share investing from as low as 1 EUR
    enhances accessibility for smaller investors. The launch features over 100
    ETFs, with plans to expand to over 1,000 stocks and ETFs in Germany and
    Austria. Future developments include free savings plans, diversifying N26’s
    offerings. Eligible Austrian customers will gain access first, with German
    expansion slated in the coming months, followed by further European markets.



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  • Bitcoin’s $6.1 billion options expiry was not enough to break the bearish sentiment

    Bitcoin’s $6.1 billion options expiry was not enough to break the bearish sentiment

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    Bitcoin’s (BTC) price has been ranging between $46,000 and $52,000 for 26 days. Despite the large nominal $6.1 billion year-end options expiry, the bullish and bearish instruments were evenly balanced between $44,000 and $49,000.

    Therefore, it was no surprise that the $47,175 price at 8:00 am UTC on Dec. 31 brought little change to the price structure. Even the 3% rally to $48,500 following the event failed to sustain itself, signaling that bears are unwilling to cede their upper hand.

    Bitcoin/USD price on Coinbase. Source: TradingView

    Bulls might have interpreted the 9,925 BTC leaving Coinbase in 24 hours as a positive trigger, considering fewer coins are available on exchanges for newcomers. Besides, the first week of the year has been positive for the past four years, averaging 18.5% gains for Bitcoin holders.

    To further support bulls’ thesis, the United States listed tech company MicroStrategy added another 1,914 BTC to their balance sheet on Dec. 30. On the negative side, regulation continues to pressure the markets as South Korean exchanges require users to verify their third-party wallet addresses to comply with the Financial Action Task Force (FATF) travel rule guidelines.

    Bitcoin had a stellar 2021 anyway

    Regardless of the short-term bearishness behind December’s 16% price drop, Bitcoin continues to vastly outperform both U.S. stocks and gold for the third year in a row. Yet, that performance was not enough to avoid every $48,000 and higher call (buy) option instrument becoming worthless as the Dec. 31 expiry price came in lower.

    Bitcoin options aggregate open interest for Dec. 31. Source: Coinglass.com

    At first sight, the $4.0 billion call (buy) options vastly outperformed the $2.1 billion put (sell) instruments, but the 1.9 call-to-put ratio is deceptive because the 16% price drop from Nov.’s $57,000 close wiped out most of the bullish bets. Therefore, there is no value in the right to buy Bitcoin (call option) at $50,000 if it is trading below that price.

    Bulls and bears instruments were evenly marched for the Dec. 31 Bitcoin options expiry, which came in much smaller than expected at $660 million. Yet, bears were unable to take control as 85% of their bets have been placed at $47,000 or below. Such data partially explains why the Dec. 31 expiry was followed by an attempt from bulls to regain momentum.

    Will the first week of 2022 finally be able to revert the slightly negative sentiment that has prevailed since the Dec. 3 crash? Unfortunately, according to Bitcoin options markets, there is no indication that the tide has changed.

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.



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  • Bitcoin bulls risk losing $365 million upon Friday’s BTC options expiry

    Bitcoin bulls risk losing $365 million upon Friday’s BTC options expiry

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    Bitcoin’s (BTC) price action hasn’t been bullish despite the $69,000 all-time high on Nov. 10. Some argue that that descending channel formed 40 days ago is the dominant trend, and $56,000 marks its current resistance.

    BTC/USD price on FTX. Source: TradingView

    Such bearishness follows scrutiny from United States regulators, after a Nov. 1 report from the President’s Working Group on Financial Markets suggested that stablecoin issuers in the U.S. should be subject to “appropriate federal oversight,” similar to banks and savings associations.

    On Nov. 12, the Bitcoin-backed exchange-traded fund (ETF) request was rejected by the U.S. Securities and Exchange Commission. To justify the denial, the regulator cited the lack of ability of its participants to deter fraud and market manipulation in Bitcoin trading.

    More recently, on Nov. 23, the chair of the U.S. Senate Committee on Banking, Housing and Urban Affairs sent notices to multiple exchanges and stablecoin issuers. The questions on consumer and investor protection on stablecoins suggest that lawmakers may be preparing a hearing on the subject.

    Still, bulls might have a different take on such news as stablecoins are by no means necessary for Bitcoin to work. Furthermore, there’s not much that the U.S. government can do to suppress projects and developers willing to relocate outside its jurisdiction.

    Bitcoin options mostly bullish for Friday’s expiry

    Despite the 17% pullback over the past 14 days from the $69,000 all-time high, the Bitcoin call (buy) options vastly dominate Friday’s expiry.

    Bitcoin options aggregate open interest for Nov. 26. Source: Bybt

    At first sight, the $1.9 billion in call (buy) options dominate the weekly expiry by 113% compared with the $885 million in put (sell) instruments. But the 2.13 call-to-put ratio is deceptive because the recent drop will likely wipe out 90% of the bullish bets.

    For example, if Bitcoin’s price remains below $58,000 at 8:00 am UTC on Nov. 26, only $150 million worth of those call (buy) options will be available at the expiry. There is no value in the right to buy Bitcoin at $60,000 or $70,000 if it’s trading below that price.

    Bears can secure a $365 million gain sub-$56k

    Below are the four most likely scenarios based on the current price action. For example, the data shows how many contracts will be available on Friday for both bulls (call) and bear (put) instruments. The imbalance favoring each side represents the theoretical profit:

    • Below $56,000: 720 calls vs. 7,490 puts. The net result favors bear (put) options by $365 million.
    • Between $56,000 and $58,000: 2,630 calls vs. 4,840 puts. The net result is $125 million favoring the bear (put) instruments.
    • Between $58,000 and $60,000: 3,600 calls vs. 3,850 puts. The net result is balanced.
    • Between $60,000 and $62,000: 6,180 calls vs. 2,340 puts. The net result shifts favoring the call (bull) instruments by $230 million.

    This crude estimate considers the call options used in bullish bets and put options exclusively in neutral-to-bearish trades. However, a trader could have sold a call option, effectively gaining a negative exposure to Bitcoin above a specific price. Unfortunately, there’s no easy way to estimate this effect.

    Bulls have double the incentives to defend $56,000

    As displayed by the 40-day descending channel, bulls need to keep the $56,000 resistance to avoid further losing momentum. One must keep in mind that it took less than two weeks to bring Bitcoin from $41,500 to $56,000 back on Oct. 10. Therefore, maintaining this level is crucial to validate Nov. 10’s all-time high.

    Moreover, if bulls manage to push Bitcoin’s price above $58,000, that will save them from a potential $365 million loss if BTC bears gain the upper hand on the back of the regulatory winds. A mere 1.5% drop from the current $56,800 might give bears just enough confidence to instill even more pain.

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.