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Bitcoin Futures Show $134 Mln Trade Volume in One Hour on Binance

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    A Binance team member spreads the word on Twitter that the volume of BTC futures trade on the digital platform has reached 16,000 Bitcoin in just one hour

Cover image via www.123rf.com

A Binance team member has reported that the trading volume of BTC futures on this platform has reached an astounding figure of 16,000 Bitcoin (that’s around $134 mln) in just one hour. This makes Binance a platform with the fourth biggest volume in this line of crypto trading.

The Binance executive recalls that it has been almost a month since the platform kicked off its BTC futures trading (13 September). Now, it is competing with Bakkt and BitMEX in this area of crypto trading.

Not long ago, the Binance futures platform faced a malicious attack. However, later it proved to be an accident and CZ of Binance took to his Twitter account to calm traders down, as was reported by U.Today.

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In its report, Binance has called the weak BTC futures release on Bakkt one of actual reasons for the recent crypto market collapse, when Bitcoin dropped over $1,000 within a few hours.

However, the Binance team remains optimistic about its Bakkt rival.

Do you think Binance will manage to overcome BitMEX in the field of Bitcoin futures trading? Feel free to tell us in the comments below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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