Regulatory Series on Cryptocurrencies: Are Ether Futures Contracts on Cards? ETH/USD Outperforms Among Crypto-Avenue

Cryptocurrency derivatives have been the center of attraction in the recent past. Cryptocurrency derivatives, including cryptocurrency ETFs, futures, CFDs, and cryptocurrency options) have been under the meticulous scanner of the renowned global regulators, such as US SEC, CFTC and UK’s Financial Conduct Authority (FCA).

CFTC administers derivatives markets in the U.S., who have already permitted bitcoin futures markets, with both CME Group and CBOE Global Exchange offering cash-settled contracts at the end of 2017.

For now, the US CFTC seems to be open for allowing ether futures contract upon the market’s demand.

On the above fundamental driver, the underlying price of ETHUSD has extended its rallies to hit 6-months highs of $191.83 levels (at Bitfinex).

Technically, the current price of the pair goes above DMAs as bulls break-out stiff resistance zone of 170-180 levels, while the technical indicators (both momentum and trend oscillators) substantiate the prevailing uptrend (refer daily chart).

On a broader perspective, the current trend spikes above EMAs upon bullish engulfing pattern, more rallies on cards as both all technical indicators indicate buying momentum in the prevailing uptrend (weekly plotting).

This derivative (futures contract) trading mechanism likely to bring in fresh institutional interests to the crypto space. We’ve seen the bullish effects soon after CME & CBOE came up with the futures markets for bitcoin back in 2017. 

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards 161 levels (which is highly bullish), while hourly USD spot index was at -49 (bearish), while articulating (at 10:24 GMT). 

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