Our Services

  • Insights
  • About Us
  • Contact Us
Back
BTCS-logo-mark_rgb.png

Bitcoin Suisse

Bitcoin Navigates Choppy Waters

Aug 7, 2019

The S&P 500 trades firmly above 3,000 and the stock market experienced another version of crypto-style hype in the form of Beyond Meat (BYND), a meat substitute producer whose stock price has risen to almost 10 times the IPO price in just under three months – reminiscent of the 2017 crypto altcoin market. In the meantime, Bitcoin has given back some of the recent gains and was range-trading between $9k and $11k.

The Bitcoin price has seen some sharp moves since our last report on July 15, [1] most notably a 9.6% rise within one hour on July 18 after a second test of support in the low $9k area – just above the CME Bitcoin Futures gap lurking between $8.5k and $9k. The bullish impulsion ultimately failed around $11k, from where the price continued to head lower. After a brief consolidation around $9.7k to $10.2k, price rapidly fell from $10k to $9.5k (-5.7% in one hour) and then inched towards $9.6k, where Bitcoin currently trades.

The total market capitalization of all cryptocurrencies currently sits at $266 billion, with Bitcoin responsible for $171 billion of it. The most valuable altcoins (by market cap) are Ethereum ($23 billion), Ripple ($13 billion), and Litecoin as well as Bitcoin Cash ($5.5 billion each). Altcoins have recently been able to slightly increase their market share, with Bitcoin dominance dropping from 68.6% to 67.2%.

Bakkt Tests Physically Settled Bitcoin Futures
Intercontinental Exchange’s Bakkt has recently announced [2] that the company would conduct initial user acceptance tests on their physically settled Bitcoin futures starting July 22. Both daily and monthly margined futures will be supported, and Bakkt has taken steps to include regulated custody as part of the package. Competitors in the space include LedgerX, ErisX and Seed CX – LedgerX has received its own designated contract market license from the CFTC in June 2019.

The sentiment on the launch of physically settled Bitcoin futures is positive in the cryptocurrency community, even though the launch of cash settled futures in late 2017 marked the top of Bitcoin’s last parabola. The physically settled futures will not only simplify operations for businesses such as mining companies or retail stores accepting Bitcoin, but will also effectively allow the purchase of actual Bitcoin through regulated financial infrastructure. The lack of properly regulated means to buy Bitcoin is often seen as a hurdle for institutional investors – as such, Bakkt’s procedures to ensure the comfort and safety of traditional exchanges (e.g. a $35M risk waterfall by ICE Clear US to minimize counterparty risk) are a welcome addition to the crypto markets.

[1] https://medium.com/bakkt-blog/putting-bakks-bitcoin-futures-to-the-test-47e381b7dda1 [22/07/2019]

[2] https://www.tradersinsight.news/traders-insight/securities/crypto/bitcoin-and-gold-stores-of-value-for-the-future/ [15/07/2019]

BTCS-logo-mark_rgb.png

Bitcoin Suisse

Bitcoin Suisse AG Grafenauweg 12 6300 Zug Switzerland

Our Services

  • For Individuals

  • For Corporations

  • For Financial Service Providers

  • For Crypto Foundations & Firms

  • For Funds

  • API

  • Invest

  • STOXX® Digital Asset Blue Chip Index

  • Bitcoin Suisse App

  • Bitcoin Suisse Online

  • CryptoFranc (XCHF)

Bitcoin Suisse

  • About Us

  • Our Team

  • Investor Relations

  • Media Relations

  • Company News

  • Career

Insights

  • Bitcoin Suisse Outlook

  • Industry Rollup

  • Wealth Management Report

  • Podcasts

  • Industry Blog

Info

  • Impressum

  • Legal Notice

  • Security at Bitcoin Suisse

  • Privacy Settings

Support

  • Frequently Asked Questions

  • Contact Us

Client Area

  • Log in

Copyright © Bitcoin Suisse – 2025

    Our Services
    See options...
  • Language

    English

  • Theme
Become a Client

We use cookies to improve your experience.

Some cookies are necessary and enable core functionalities such as security, network management and accessibility. We also set analytics cookies to help us improve our website by collecting and reporting information on how you use it. Below you find your options for your cookie settings. For more information on how these cookies work please see our Privacy Notice.

  • Necessary Cookies

    Necessary cookies enable core functionalities. The website cannot function properly without these cookies. They can only be disabled by changing your browser settings.

  • Analytics Cookies

    These cookies help us understand how visitors interact with our website by collecting anonymous data on page visits, clicks, and behavior. This helps us improve the site’s content and functionality to better meet your needs. We use PostHog for analytics.

  • Marketing Cookies

    Marketing cookies allow us to show you personalized ads relevant to your interests, both on our site and across other platforms. They also help us measure the effectiveness of our advertising campaigns and avoid showing you the same ads repeatedly. Marketing platforms include HubSpot, Meta Platforms Ireland Ltd., Google Ireland Limited, LinkedIn Ireland Unlimited Company, and X Corp.

Disclaimer & Terms of Use

Despite all precautionary measures, cryptocurrencies are associated with high risks (in particular high price fluctuations, technical risks and regulatory uncertainty). The information contained on this website and in the links about Bitcoin Suisse AG and its group companies (hereinafter collectively referred to as “Bitcoin Suisse AG”) is provided for information purposes only.