Cboe official says more cryptoassets on futures exchange a possibility; Bitcoin tries to halt skid
The price for a single bitcoin tried to claw back above $9,000 Tuesday, as the digital asset looked on track to halt a five-session string of settlements in negative territory on futures markets.
The No. 1 digital currency’s spot price BTCUSD, +0.27% was little changed at around $9,100 on Tuesday, while futures, which have ended lower for five consecutive sessions, according to FactSet data, appeared ready to book modest gains.
Lately, regulatory concerns have been undercutting demand for digital currencies as of late, specifically a warning last week from the Securities and Exchange Commission over crypto-trading platforms, market participants said.
“I still feel like the market is looking a bit bearish,” said Craig Erlam, senior market analyst at OANDA. “It’s lacking some positive news to give it that next boost higher and I wouldn’t be surprised if we see it around the $6,000 in the coming months.”
After what has been a relatively successful start for bitcoin futures trading, with no major hiccups, Cboe Global Markets Inc., which listed bitcoin futures back in December, hinted at the possibility of adding other virtual assets.
In an interview with CoinTelegraph, Dennis O’Callahan, a Cboe director, said the exchange is encouraged by the activity of bitcoin trade on its platform, saying the Cboe Markets sees around 7,000 contracts change hands on average daily, adding that more products are a possibility.
“Being in product development our task is to look for new products all the time, so we are constantly evaluating that market, and we are evaluating other cryptocurrencies too, among other items,” O’Callahan told the digital-asset focused site.
On Tuesday, Japanese cryptocurrency platform Coincheck Inc. said it would refund its clients $435 million after a Jan. 26 hack of pilfered cyberassets.
Coincheck said the repatriations would be made at a rate of 88.549 yen per NEM.
Among other major cryptocurrencies, ether was down 1.4% at $689.83, Bitcoin Cash was up 1% at $1,068.55, Litecoin fell 2.1% at $175.31, and Ripple was off 2.3% at $0.78, according to news and research firm CoinDesk.
As for futures markets, the Cboe’s March contract XBTH8, +3.44% which expires on Wednesday, rose 3.1% to $9,130. Cboe’s April contract XBTJ8, +3.49% rose 2.8% at $9,140. Meanwhile, the CME Group Inc.’s March contract BTCH8, +2.97% added 2.5% to $9,130.
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