Crypto rally? Bitcoin Futures Indicate Potential Gains

Bitcoin futures hint at upside potential if the positive mood in equities trickles down to cryptocurrencies.

Bitcoin futures hint at upside potential if the positive mood in equities trickles down to cryptocurrencies. With the move to the April contract underway, the March-April spread has held below 100 – relatively modest for Bitcoin – meaning there is room for a catch-up rally if the shares remain firm. Other bullish signs include rising open interest as well as futures prices, and futures trying to break above the triangle pattern that has had Bitcoin in check for several weeks.

El Salvador postpones bitcoin bond issuance, expects better terms

(Reuters) – El Salvador has postponed the unprecedented issuance of a bitcoin-backed bond scheduled for last week as the government decided to wait for favorable conditions in the financial market, Finance Minister Alejandro said on Tuesday. Zelaya.

The Central American government had planned to launch the $1 billion bond between March 15 and March 20, but the war between Russia and Ukraine and the volatility of the cryptocurrency prompted authorities to change the date.

The launch could be delayed to September as bitcoin has been sluggish since hitting a record high above $67,500 in early November. It lost nearly half its value on Jan. 22 and was trading at $42,609 on Tuesday, according to data from Refinitiv Eikon.

Now is not the time to issue the bond, according to Zelaya who said the ideal date to enter the market is the first half of the year, during an interview with a local TV station.

“In May or June, the market variants are a bit different. At the latest in September. After September, if you go out in the international market, it is difficult (to raise capital),” he added.

El Salvador became the first country in the world to adopt bitcoin as legal tender last year, drawing criticism from the International Monetary Fund (IMF), which fears the move could harm the country’s finances.

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