BHEX Daily Crypto Watch, Perpetual Contract Strategy & BigData (Mar 30, 2020)
By: Hbtc Exchange
Tags: Bitcoin, Ethereum, Bhex, Articles, Perpetual Contract

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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.

Find out more about BHEX Perpetual Contract

BHEX Daily Crypto Watch

Data shows that in the first quarter of 2020, the value of stablecoin transactions exceeded US$ 90 billion. The trading volume of BitMEX derivatives has declined and has a net outflow of 67,000 bitcoins in the past two weeks.

Weiss Ratings tweeted that the next Bitcoin bull run can easily soar 10 times and the second and third generation of cryptocurrencies may appreciate even higher.

The People’s Bank of China announced a 7-day RMB 7 billion reverse repurchase today.

On Sunday, Saudi Arabia intercepted ballistic missiles fired by Houthi rebels in Yemen and as a result Brent crude futures fell to the lowest level since November 2002.

Last week, the volume of bitcoin futures on the Chicago Mercantile Exchange (CME) plummeted. The trading volume on March 27 was the lowest in the past three weeks.

Market Situation:

The total cryptocurrency market capitalization is U.S. $ 167 billion U.S. dollars (-4.20%) and the 24h trading volume is U.S. $ 95 billion U.S. dollars (-20.65%). Bitcoin continues to decline, falling below $ 6,000. Bitcoin spot $ 5,936, a 4.14% decline in 24 hours.

The performance of the leading currencies was relatively weak. BSV and DASH led the decline, falling by 4.3% and 4.9% with ETH, BCH, LTC, and EOS falling over 2% in 24 hours.

BHEX Perpetual Contract Strategy (Mar 30, 2020)

BHEX BTC Perpetual Contract Strategy (Mar 30, 2020)

In the Bitcoin 4H chart, the bollinger bands widened and headed downwards. The moving averages were in shorts formation. After falling below 6000, Bitcoin is showing no signs of stopping. The decline may continue and shorts may dominate for a while.

Primary Strategy: Short 6100, Stop Loss 6300, Target 5600.

BHEX ETH Perpetual Contract Strategy (Mar 30, 2020)

The performance of Ethereum was weak. In the 4H chart, the high has gradually decreased and the low is reaching a new low. Trading volume is sluggish and shows no signs of entry signal. The 4-hour bollinger bands has widen and is heading downwards. Rebound at key resistance levels.

Primary Strategy: Short 128, Stop Loss 131, Target 121.

(The above is an opinion, not financial advice)

BHEX Perpetual Contract Big Data (Mar 30, 2020)

BHEX BIG DATA: Slight Increase In The Ratio of Long & Short Position, Shorts In Advantage

As of 30 March, 9.30 am (UTC+8), BHEX Big Data shows the ratio of Long & Short position is at 0.89.

Perpetual Contract Funding Rate is -0.0664%;

The total number of BTC Contracts is 25,042,006;

The total number of BTC USDT Contracts transacted is 38,797,585;

29,315,939 BTC Perpetual Contract active Buy orders, and 28,314,004 of Sell orders.

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