‘Striking’ Bitcoin Market Manipulation Revealed

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Bitcoin and cryptocurrency markets are in turmoil tonight after the disappointing launch of the hotly-anticipated Bakkt crypto platform...

as investors balked at Bakkt's low bitcoin trading volume.

Now, new research has warned of a"striking systematic trend" in bitcoin price movements, with bitcoin falling far further than average ahead of CME's bitcoin futures contracts being settled each month.LightRocket via Getty Images Bitcoin has dropped on average 2.27% towards settlement each month, compared to an average fall of just 0.06% on a random day over the same period, bitcoin and cryptocurrency analysts atAdjusting for"large outliers," researchers found the average price movement up 0.04%, while for the period before CME bitcoin futures contracts are settled the price falls by 1.99% on average.

"Statistically, it is highly unlikely that the price falls in advance of CME settlement should be caused by mere coincidence," Arcane's Bendik Norheim Schei wrote. "The figures thus support a hypothesis that the bitcoin price is manipulated in advance of CME settlement. However, the figures do not say anything about deliberate manipulation or, for example, only a result of investors’ strategy of hedging," Schei added, acknowledging"other factors" could"potentially explain the pattern, or show that it is even stronger," and calling for further analysis....

 

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When Forbes is years behind 😂

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 /  🏆 394. in TH

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The Real Story Of The Repo Market Meltdown, And What It Means For BitcoinLast week the financial system ran out of cash. It was a modern version of a bank run, and it’s not over yet. The event doesn’t mean another financial meltdown is necessarily imminent, but it provides a “teachable moment” regarding systemic fragility and anti-fragility. Is this for real? It's on a reddit thread as of this morning. jonathanotcher1 APompliano hackapreneur TruthRaiderHQ JoshRoomsburg cz_binance Appreciate the 'plain English' explanation, but I would be interested to hear opinions from economists (TimDuy, dismalscience, elerianm) on the claims by CaitlinLong_ about what last week's liquidity crunch in the repo market revealed about the financial markets.
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