Crypto scammers deface Trump campaign website shortly before US election

Just a week before the US election, President Donald Trump’s website was briefly defaced by crypto scammers.

One of the campaign websites of the US president Donald Trump yesterday was marred briefly as from an article on 28 October on TechCrunch seen

Hackers were able to modify the website donaldjtrump.com and replaced the usual campaign rhetoric and the request for donations with the well-known FBI message „This page has been seized“.

The unknown attackers claimed they had obtained „top secret information“ and asked people to vote on whether the data should be released. For a no, you should transfer amounts to two Monero wallets.

These data are said to contain evidence that discredits Trump as president and links his administration to „the origin of the coronavirus“. There is no evidence that the individuals involved actually have any such information.

The website did not contain any sensitive data, according to Tim Murtaugh, communications director for the Trump campaign.

He confirmed the attack in a tweet

Trump recently claimed „nobody gets hacked“. Just days later, his Twitter account was hacked by a Dutch researcher who claimed he guessed the password on the fifth try and that it was „maga2020“.

The crypto world is eagerly watching the race for the US presidential election. The question is how the results could possibly affect the Bitcoin price and other tokens.

Wilshire Phoenix: Futures on Bitcoin influence the price more than spot markets

The information provided by the report seems to confirm what many in the industry already believed to be true.

 

A new report from investment firm Wilshire Phoenix claims that cash-settled trading products related to Bitcoin futures contracts on the Chicago Mercantile Exchange, or CME, affect the price of Bitcoin although they do not directly involve any actual Bitcoin (BTC) quantities.

„Wilshire Phoenix’s findings indicate that CME Bitcoin Futures contribute more to price discovery than related spot markets,“ explains the report published on October 14 by Wilshire Phoenix.

„The guidance of a futures market suggests that there is a strong base of traders who could operate in such markets for many reasons, including confidence in the trading platform and lower latency.

Price discovery essentially indicates how each Bitcoin is valued in the market, i.e. its market price or spot price. In essence, the Wilshire report revealed that these CME products affect the price of BTC more than the actual BTC itself, which is traded on native crypto exchanges.

Launched in December 2017, CME’s Bitcoin Futures do not run Bitcoin spots. Participants exchange contracts that track the price of Bitcoin on the crypto markets, settled in US dollars at maturity. These contracts are based on a price 1k Daily Profit review index called CME CF BRR, which sets a price for BTC based on the values recorded by a series of crypto exchange spots, called constituent exchanges. CME’s futures products have attracted a lot of interest in the years following their launch.

Although the CME’s Bitcoin futures deal only in cash, crypto traders and traders pay particular attention to their price action, especially the empty tracings on the chart often referred to as „CME gap“.

These gaps are formed when the BTC spot price at the opening of the next trading day is above or below the previous day. On spot exchanges, you can trade BTC 24 hours a day, while the CME limits activity on its products to fixed times. Bitcoin’s spot price has a well-known tendency to revisit the gaps left open on the chart.

One aspect highlighted in the report is the fact that the total trading volume on the CME is higher than any exchange spot included in its CF BRR, adding: „this facilitates price discovery within the futures market. In addition, Bitcoin Future’s traders on the CME handle significantly larger positions on average:

„A relative number of smaller trades in a given market is generally statistically negligible for price discovery purposes. The average size of positions in the futures market on the CME favours its advantage in price discovery over its constituent exchanges“.

The report also highlighted the presence of other mainstream futures markets that influence spot prices through other asset classes, so the results are not out of the ordinary.

„There are 85 institutions with open positions in Bitcoin Futures, which represents a similar number to other CME futures in major currency markets such as the Swiss franc, US dollar index and fed funds,“ explained Alexander Chang, partner at Wilshire Phoenix and co-author of the report, in a comment to Cointelegraph.

Bitcoin traders long-term bullish despite boring market

Traders in the Bitcoin (BTC) options market are positive in the long term. This while the spot price is struggling to conquer the zone around $11,000.

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Bitcoin options

Market researcher Skew has analyzed the options that will expire in the next 3 and 6 months. The intermediate position: there is more demand for call options than put options, a bullish signal.

So if you are now speculating on a higher Bitcoin Bank price over 6 months, as a trader you are willing to pay a premium. This premium is now 11% higher for a call option compared to a put option.

Despite the dip in early September from $12,000 to ~$10,000, the sentiment remains positive.

The volatility between the 25d put and the 25d call with the same expiration. Source: Skew

On the spot market, Bitcoin keeps a reasonable low profile. Should the price break out of the consolidation zone, is the question analyst John van Meer asked himself this morning. CryptoTargets also sees the necessary bearish signals on the 4-hour chart.

CryptoDog does not find the current market very interesting.

According to Immortal Technique a short position might be obvious, but Bitcoin can surprise as always.

What might help is that the 180-day volatility is at its lowest point in 23 months.

A sustained consolidation phase combined with few price fluctuations usually ends with a ‚bold move‘ of the price.

Influence of BitMEX

The fact that the U.S. authorities are now intervening at BitMEX still has an impact on the market, says Willy Woo. This analyst sees more of an influx of new investors on the Bitcoin blockchain.

But according to Woo, that effect has not yet been included in the spot price.

However, there are other sounds. Like Marc Chandler, strategist at forex trading house Bannockburn and expert on the forex market.

Because of the global corona crisis and the upcoming American elections, there is uncertainty in the financial markets. In times of uncertainty, investors flee to cash. the dollar. And that uncertainty would put a brake on the demand for assets such as Bitcoin, gold and oil.

Chandler ignores inflation and the fact that government bonds no longer yield much or nothing.