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FxWirePro: A Run Through on Underlying Security Outlook Ahead of BTCG19 CME Futures Expiry

This 22nd February, the latest round of BTCG19 CME futures (contract started on December 3rd2018) expires.

BTCUSD price has surpassed $4k mark today to extend bullish streaks and hit 6-weeks highs. The current price spikes above 7-DMAs with bullish crossovers and although we observe buying momentum, the same has been shrinking away ahead of expiry week.

The nature of futures contracts would imply that they need to be settled on a set, predefined date, based on a contract. 

All CME contracts will have to be traded, or settled, before this date. There is generally a fall in the trading volume of futures around expiration dates, that coincides with a rise in volatility and potential short/long squeezing.

Following the declines in cryptocurrency values in November and early December, we noted the decline in Bitcoin mining activity as profitability collapsed, following a significant increase during 2018 boosted by improvements in technology. After a modest recovery in prices in the second half of December, mining activity recovered somewhat (refer above chart).

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards 40 levels (which is bullish), while hourly USD spot index was at 9 (neutral) while articulating (at 10:55 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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July 2 15:00 UTC Released

DKCurrency Reserves

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449.6 Stale

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Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

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50 %

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48.6 %

January 31 00:00 UTC 766371766371m

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2016 bln ARS

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January 31 00:00 UTC 766371766371m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 778191778191m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 766371766371m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 778191778191m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 766371766371m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766371766371m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766371766371m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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