MARKETS DAILY: Crypto Update | Bitcoin Outlook and BitMEX Options Trading
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 9 May 2024
⏱️ 18 minutes
🧾️ Download transcript
Summary
The latest price moves and insights with Helene Braun and BitMex CEO Stephan Lutz.
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Today on "Markets Daily," Helene Braun speaks with Stefan Lutz, CEO of BitMEX, about the surge in crypto derivatives trading volume and the Bitcoin outlook. They discuss the recent launch of options trading on BitMEX and the demand for meme coins. Lutz predicts Bitcoin will trade between $60,000 and $70,000 in the coming weeks, with potential for major corrections or new all-time highs, while also explaining the benefits of options trading and features of BitMEX's platform.
Chapters |
00:00 Introduction and Market Update
01:21 Bitcoin Outlook: Range-Bound Trading
06:42 BitMEX Launches Options Trading
09:33 Expansion Plans and Accessibility
13:39 The Rise of Meme Coins
16:06 Conclusion
LINKS |
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This episode was hosted by Jenn Sanasie. “Markets Daily” is produced and edited by senior producer Michele Musso, and executive producer Jared Schwartz alongside Senior Booker, Melissa Montañez—all original music by Doc Blust and Colin Mealey.
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Transcript
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| 0:00.0 | Well, my call actually not so much for today as today, but for the next weeks is that we |
| 0:05.1 | will trade range bound on Bitcoin between 60 and 70,000. |
| 0:08.8 | We have seen the dip below 60,000. |
| 0:11.1 | I think that more or less is over. |
| 0:13.8 | And we come to that when we speak about derivatives. |
| 0:16.3 | It's actually a nice situation for traders because you can get in and out. |
| 0:20.6 | You just trade between the ranges and you can make some money with that in a professional |
| 0:24.7 | way, which is good. |
| 0:30.6 | It's Thursday, May 9th, 2024. |
| 0:33.4 | Good morning and welcome to Markets Daily. |
| 0:36.0 | I'm your host, Helene Braun, markets reporter here at |
| 0:38.5 | CoinDesk. If you're interested in the Asian market and what's going on with the spot crypto |
| 0:43.7 | ETFs over there, make sure to check out our episode from yesterday, which featured a guest from |
| 0:49.0 | Hashkey, which is one of the issuers of the spot crypto ETS in Hong Kong. |
| 0:59.6 | We actually have another Asia-based guest today, but our conversation this morning will be a bit more focused on trading, specifically that of crypto derivatives, which in March of this year |
| 1:06.1 | saw its volume surge by 86% to a record high of close to 6.2 trillion. That is trillion with a T. |
| 1:14.4 | So if you're interested in that, stay tuned for our guests today. But before that, I want to |
| 1:19.4 | quickly look at what the market is doing. Bitcoin is down quite a bit since yesterday by about |
| 1:25.5 | 2%. It saw a pretty significant drop during yesterday US morning hours, |
| 1:30.6 | and it's now trading at a little over $61,000. |
| 1:34.8 | Meanwhile, Ethereum is down by about 0.7% at $2,972. |
| 1:41.7 | So let's see what's going on here with our guests, BitMex CEO Stefan Lutz. |
... |
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