Cryptocurrencies continue to fall in price, and Bitcoin closes the fourth trading session in a row with a decline. In arcane Research is sure that someone is manipulating the market.
</strong>Company experts pay attention to the fact thatit's all about the expiration of bitcoin futures that are traded on the Chicago Mercantile Exchange (CME). According to their observations, for the period from January 2018 to August 2019, the price of bitcoin significantly decreased immediately before quarterly expiry. This happened in 75% of cases.
“Our numbers support the hypothesis thatBitcoin’s price is being manipulated on the eve of the expiration of CME futures, ”experts say. “However, the nature of this manipulation is difficult to establish. It can be as a result of collusion of large players, or simply the result of hedging their positions by investors. ”
In August, Arcane Research became famous fordiscovered another interesting fact. According to the company, the share of bitcoin in the total capitalization of the cryptocurrency market is not 70%, as is commonly believed, but more than 90%.
Arcane Research published its data inTuesday, and literally a few hours later, bitcoin collapsed by 15%. At Skew Markets, this event was explained by the fact that on Friday, that is, today, almost 50% of the options for bitcoin, which are traded on the Deribit and LedgerX platforms, are experimented.
This week futures trading launched andPlayground Bakkt. According to company representatives, their product helps to find a “fair” price for this cryptocurrency, and its collapse suggests that it is noticeably lower than $ 10,000.