TradFi execs say crypto derivatives will play a big role in Bitcoin’s future
Bedroom crypto traders and analysts have repeatedly expressed concern over Bitcoin (BTC)'s inability to beat all-time highs, but experts from the Chicago Mercantile Exchange (CME), TradingView and TJM Institutional Services believe the spot is starting to hit the Bitcoin exchange. An ETF plays a key role in sending the price of BTC to the highs that traders dream of.
Speaking on the consensus about the role of crypto derivatives in tomorrow's market, TradingView CEO Piers Crosby said that derivatives have always been a core part of the crypto traders' experience, but from 2015 to 2022, trading on centralized exchanges will mean more places and margin traders with higher fees and Their faces were “torn” by slipping.
Crosby said:
“On the retail side, ETFs are a great way for investors to quickly buy and get out of the asset when needed, mainly because you're paying very low fees to get in and out.”
Regarding the position of Bitcoin ETF as a “proper” investment asset and the potential impact it should have on BTC's acceptance of future price gains, CME Group's head of global cryptocurrency products, Giovanni Vicioso, said: Growth” suggests that it could be beneficial to Bitcoin's price discovery.
Bitcoin: Canary in the Coal Mine or Facilitator for Stocks and Commodities?
From 2017 to 2021, a few analysts predicted that Bitcoin would hedge against inflation and underperform the stock market. The topic is somewhat controversial among the investing public, but TJM Institutional Services Managing Director Jim Uiorio said that whether or not there is a correlation, recent US Treasury bids are a red flag.
Yurio said:
“Seven of the last 10 long-dated Treasury bids have been disappointing — some downright nasty. My basic argument is that the Fed should intervene to support the market.
Related: 3 Strong Indicators Predicting BTC Price To Increase To $75K In June
Iuorio stated that he believes that the US Federal Reserve will eventually reduce rates and start easing again, and historically, loose monetary policy has been beneficial for stocks, risk assets and Bitcoin.
Regarding Bitcoin's relationship with traditional markets, Crosby said:
We are starting to see some big institutional players try to change the narrative that crypto is not just another justification for tech stocks, NASDAQ and QQQ.
Crosby explained that crypto market value sometimes follows stocks, gold and oil and that crypto is also negatively affected by internal black swans such as FTX exchanges and large decentralized financial businesses. It has nothing to do with what is expected, we will see the crypto market start to recover.
Magazine: Crypto voters are disrupting the 2024 election and it's set to continue.
This article is not intended for general information purposes and should not be construed as legal or investment advice. The views, ideas and opinions expressed herein are solely those of the author and do not necessarily represent the views and opinions of Cointelegraph.
