Goldman Sachs Executes First Trade The Bitcoin Futures Market

By Kevin • July 7, 2022 3:47 pm • Comments

It was just revealed that global investment bank Goldman Sachs has just entered the Bitcoin Futures Market and executed their first block trade in Asia.

With such a large institutional player opening their first position in this market, this could be a sign of change for how the market will behave in the future due to the next influx of capital.

If anything, this announcement indicates that there may be some large incoming moves up ahead as the BTC price currently seems to be ranging at around the $20k mark.

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Investors are speculating on whether or not there will be an additional dip from this level or if price will finally rebound to higher levels.

FXStreet reports:

Bitcoin price has investors preparing for a lethal blood bath in the coming days. Since June 15 the BTC price has auctioned off within an erratic trading range producing diminishing returns and diminishing losses with each directional shift.

Bitcoin price currently trades at $20,087 as the bulls have managed to re-route since the early morning shake-out on June 5. The Relative Strength Index subtly validates the symmetrical triangle’s presence as bullish and bearish divergence is witnessed at key pivotal turning points.

On July 5, Crypto analysts @BTC_Archive reported that Goldman Sachs has joined in on the crypto speculation. Apparently, the prestigious investment group has opened their first Bitcoin Futures and Options position during the Asian trading session.

At current time, it is uncertain if the immensely funded investment group is a bull or a bear in the market and the company has not issued a follow-up to the hundreds of Twitter users asking the same question.

From a technical perspective,  analysts are suggesting to not get our hopes up too early as there may be the possibility of a Armageddon-style decline to a lower level before a rebound happens.

With that being said, the entrance of Goldman Sachs into the market will likely signal other institutional players to do the same in the near future if they haven’t already.

At this point in time, the investment firm’s exact positions have not been revealed and it is unclear on whether Goldman Sachs is currently a bull or a bear on the current market.

Large institutions typically do not publicly reveal their positions so retail investors should do their own research on how to invest during this bear market.

Cryptomonist concludes:

Tuesday was the turn of Goldman‘s first Bitcoin futures transaction in Asia, a very important move both in terms of timing and the transaction itself.

In this period, the cryptocurrency world has experienced several shocks such as the Terra-Luna ecosystem debacle, which saw the value of a stable coin linked to the dollar price that everyone considered safe collapse to zero, or what happened to Celsius and some crypto exchanges that had to block operations because of problems related to lack of liquidity.

The fact that such a major bank continues to invest with increasing vigor in this asset is a very good sign for digital currencies because it increasingly normalizes this sector and exposes banks that will thus have an interest in no longer acting as detractors.

With this news, it will help promote the fact that the digital assets industry is now normalizing and that banks will continue to want to increase their exposure to this new market.

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