Would you like to close a position in order to realize a profit or a loss? There are multiple ways to close a position on Bybit: Close

Would you like to close a position in order to realize a profit or a loss? There are multiple ways to close a position on Bybit:

Head over to the Positions tab. There, you can close a partial (or an entire) position by clicking on either the 

    (b) Select a proportion of the closing quantity

    (b) Enter the closing quantity, or

Select a proportion of the closing quantity

Place a New Order in the Opposite Direction

For Inverse Perpetual and Inverse Futures Contracts (in One-Way Mode)

, you may place a new order in the opposite direction of your current position in the order zone.

In this example, a trader is holding a long position of 10,000 BTCUSD contracts. To close 50% of the position, he or she can place an order for 5,000 short positions. This will close off 5,000 existing long positions once the order has been filled.

For USDT Perpetual and Inverse Futures Contracts (in Hedge Mode)

 tab in the order zone in order to submit an order in the opposite direction.

Ensure that you are in Hedge Mode. If you are not currently in Hedge Mode, select the settings button located on the top right corner of the trading page, as shown below to set your trading preferences. Once done, proceed to the 

First, please set your trading preferences — TP/SL on Entire Position, or TP/SL on Selected Position — via the settings button on the right side of the trading page.

Your Take Profit and/or Stop Loss order has been submitted.

In order to better understand the partial TP/SL, let us assume that you are holding a long position of 10,000 BTCUSD contract quantity at $38,883.90.

You can pre-set 2,000 BTCUSD contracts at a position with TP at $40,000, and another 2,000 BTCUSD contracts at a position with SL at $36,000. When the price of BTC rises to $40,000, a partial close will successfully occur and a Take Profit order will be executed.

This feature allows you to place multiple TP or SL orders, so that when the underlying asset price surges or plunges, only a portion of your position will be closed. If a market reversal occurs, you can continue to benefit from your remaining position.  

Beginner

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How to Close a Trade on Bybit

What would happen after SEC Approval of Ethereum Spot ETFs? Read on as we offer Ethereum price predictions and suggest trading strategies that you can adopt.

 of an Ethereum Spot exchange-traded fund (

) by the SEC has continued to stir anticipation in the crypto community. The 

 on January 10, 2024 has raised hopes for similar products linked to 

. However, recent delays in the SEC's decision-making process have introduced uncertainty, with major players like 

This article analyzes the potential outcomes of the SEC's decision on Ethereum Spot ETFs, as well as its impact on Ether's price. Learn winning trading strategies on Bybit, depending upon your view of post-approval trends.

An Ethereum Spot ETF is an investment vehicle that tracks the price of 

. It allows investors to gain exposure to Ethereum without directly owning or storing the cryptocurrency themselves. Investors buy shares in these funds rather than purchasing Ether directly from cryptocurrency exchanges. Unlike 

, which derive value from futures contracts, Ethereum Spot ETFs are hedged by Spot ETH tokens. As a result, the ETFs can mirror Ether’s real-time market price.

Why Is Everyone Excited About Pending SEC Approval of Ethereum Spot ETFs?

The excitement surrounding the pending SEC approval of Ethereum Spot ETFs stems from the potential for this investment vehicle to provide easier access to Ethereum's price movements for both retail and institutional investors. Anticipation was initially high after the SEC approved Bitcoin Spot ETFs on January 10, 2024, leading many to believe that similar products backed by Ethereum would follow suit. However, recent delays in the SEC's decision-making process have added to the suspense and speculation around the approval of Ethereum Spot ETFs.

Investors are particularly eager because SEC approval of Ethereum Spot ETFs would provide a regulated way to gain exposure to Ether. Spot ETF approval could open up new avenues to investment for both institutional and retail investors.

Despite initial optimism, recent news indicates that the SEC has been delaying decisions on 

 from major players like BlackRock, Fidelity, VanEck, Franklin Templeton and Grayscale. These delays and uncertainties in the SEC's decision-making process have dampened expectations, raising fears that the SEC may not approve these ETFs as quickly as initially hoped.

Post–Ethereum Spot ETF Approval Price Prediction: Three Potential Outcomes

The recent surge in Ethereum's price, as it briefly crossed the $4,000 mark in March 2024, has been fueled by a mix of factors, 

 surrounding the possible approval of an Ethereum Spot ETF. This bullish trend has sparked optimism within the crypto community, with experts foreseeing further price surges if the Spot ETF applications get the green light. Against this backdrop, all eyes are on the SEC’s upcoming decision, slated for May 2024, regarding the approval of Ethereum ETF applications from issuers like Fidelity, ARK 21Shares and Hashdex. 

As the anticipation mounts, traders may want to consider potential outcomes, which could fluctuate based on market expectations, regulatory clarity and general sentiment. 

Here are three potential scenarios that could unfold following the approval of an Ethereum Spot ETF, and how you can navigate each one in your favor.

Bullish Post–Ethereum Spot ETF Approval Price Prediction

For several reasons, approval of an Ethereum Spot ETF could fuel bullish market sentiment. First, it would offer a regulated and straightforward path for retail and institutional investors to tap into Ethereum's potential without dealing directly with cryptocurrency complexities. This newfound accessibility could trigger a surge in demand, potentially driving up Ethereum's price. Also, the approval itself could serve as validation for Ethereum's legitimacy and its potential for wider adoption, instilling further confidence among investors.

Optimal ETH Option Strategy: Bull Call Spread

If you're bullish on Ethereum, a bull call spread could be an optimal strategy. Here's how it works: You purchase a 

. Simultaneously, you sell a call option, at a higher strike price, that's out-of-the-money (OTM). Both 

This strategy allows for profit if Ethereum's price rises beyond the cost of the call spread, while limiting your potential loss to the net premium paid. It can be a cost-effective way to benefit from bullish movements with a known maximum risk.

To execute a bull call spread strategy on Bybit, purchase a near at-the-money ETH call at a strike price of (for this example) $3,200, expiring at the end of June. Next, sell an out-of-the-money call option with a higher strike price, such as $3,800. Ensure both options have the same expiration date. The net 

Your payoff is based on the change between Ethereum's price and the strike prices of the options. If you buy a $3,200 lower strike call and sell a $3,800 higher strike call that costs $200, here’s an analysis of potential profitability. 

:(Higher Strike Price − Lower Strike Price) − Net Premium Paid =

Lower Strike Price + Net Premium Paid = $3,200 + $200 = $3,400

Bearish Post–Ethereum Spot ETF Approval Price Prediction

Several factors could contribute to negative market sentiment post–Spot ETF approval. For instance, approval could lead to selling pressure, as investors who’ve been waiting for the news sell their holdings. This increased supply could outpace demand, driving down the price of Ether. In addition, approval could signal a saturation point in the market, leading investors to take profits and exit their positions. 

The SEC has been investigating Ether to determine whether to classify it as a security because of its transition to a 

 consensus mechanism, which has implications for more stringent regulation. If an ETF approval is accompanied by negative news regarding security classification or other concerns, it could dampen investor sentiment and contribute to a bearish market outlook for Ethereum.

Optimal ETH Option Strategy: Bear Put Spread

The optimal ETH option strategy on Bybit for a bearish outlook could be a 

 at a higher strike price and simultaneously selling a put option at a lower strike price, both with the same expiration date. A bear put spread allows investors to profit from a potential decrease in Ether's price, while limiting their downside risk. 

This strategy is cheaper than buying a put option by itself and benefits from the price of ETH falling, in addition to the time decay of the short put option.

To execute a bear put spread strategy on Bybit, buy an ATM or OTM put option strike price, such as $3,000, and simultaneously sell a put option with a lower strike price, for example, $2,500. Both options should have the same expiration date. The net delta is around 0.2.

Your payoff is based on the change between Ethereum's price and the strike prices of the options. If you buy a $3,000 higher strike put and sell a $2,500 lower strike put that costs $250, here’s your potential profitability:

(Higher Strike Price − Lower Strike Price) − Net Premium Paid =

Higher Strike Price − Net Premium Paid = $3,000 − $2,500 = $500

Neutral Post–Ethereum Spot ETF Approval Price Prediction

In a scenario where the price of Ethereum post–Ethereum Spot ETF approval is neutral, the market sentiment could be balanced, for various reasons. The approval of Ethereum Spot ETFs might be expected by the market, leading to a lack of significant price movement. Additionally, investors might adopt a wait-and-see approach to assess the actual impact of the approval on Ethereum's price, resulting in a temporary equilibrium between buying and selling pressure.

Optimal ETH Option Strategy: Cash-and-Carry Arbitrage Trade

A strategy you can use on Bybit when your position is neutral is that of cash-and-carry 

. The anticipation of Ethereum Spot ETF approval could prompt Futures contracts to trade higher than Spot. To execute a market-neutral trade, traders sell their ETH Futures against buying Spot. 

To execute this ETH trade on Bybit, buy ETH for $3,150 (for example) to establish your long Spot position. Then, sell an equivalent number of ETH June Futures for $3,156. You may then profit from the $6 difference between Futures and Spot.

What if the SEC Doesn’t Approve Ethereum Spot ETFs?

The crypto market is a complex ecosystem, and regulatory decisions are just one of many influences on market dynamics. SEC denial of Ethereum Spot ETFs may lead to a temporary setback for both Ether's price and 

. Investors anticipating the approval may react by selling off their positions, causing a short-term decline in Ethereum's price. 

While some experts believe that the market has already priced in the possibility of Ethereum Spot ETF rejection, many still believe a refusal could cause a short-term dip in prices. The absence of an Ethereum Spot ETF could limit the accessibility of Ethereum to traditional investors, potentially slowing down the influx of institutional capital into the cryptocurrency market.

SEC rejection of an Ethereum Spot ETF could signal regulatory uncertainty and hesitation toward cryptocurrencies, affecting not only Ether but also other digital assets. Such lack of approval could affect investor confidence in the crypto market as a whole, leading to a period of volatility and cautious trading.

Overall, the failure to approve an Ethereum Spot ETF could result in a short-term price drop for Ether, increased market uncertainty and a potential slowdown in institutional adoption of cryptocurrencies.

As the excitement builds around the potential approval of an Ethereum Spot ETF, investors are exploring ways to maximize their exposure to Ethereum. 

 presents an attractive investment opportunity for those interested in staking ETH and earning yields. 

 ETH through Bybit Savings allows investors to earn a yield on their holdings, providing a steady source of passive income. It offers both flexible and fixed-term products, granting investors the flexibility to select the staking option that aligns with their investment strategies. 

Bybit Savings ensures competitive and guaranteed 

s, delivering attractive returns on staked ETH. These features make Bybit Savings a popular choice for investors seeking to seize potential market opportunities post–ETF Spot approval and maximize their returns while staking Ethereum.

Here’s how you can get started staking ETH and earning yield with Bybit Savings:

With the SEC's decision on Ethereum Spot ETFs approaching, traders and investors are preparing for potential market volatility and price movements. Whether the ETFs get approved or not, strategies are available to navigate different market scenarios effectively. From bullish to bearish or neutral outlooks, several strategies can take advantage of market movements after either SEC ETF approval or rejection.

Additionally, exploring opportunities such as staking ETH through Bybit Savings can provide alternative avenues for maximizing returns in the dynamic crypto market. 

Ready to trade Ethereum and seize potential opportunities post–ETF approval? 

 today to explore a range of trading options and investment opportunities.

Intermediate

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Ethereum Price Prediction: How to Trade ETH After SEC Approval of Spot ETFs

Can't wait to start your trading journey? Here is a detailed process guide to help you start your first trade. Bybit offers you three types of trading

Can’t wait to start your trading journey? Here’s a detailed process guide to help you start your first trade on Bybit.

Bybit offers you two primary types of trading products: Spot trading and Derivatives trading.

Once you are logged in to your Bybit account, hover your cursor over the 

button on the navigation bar and click on 

 Choose your preferred trading pair on the left side of the page by hovering your cursor over the dropdown. You can also see the 

of the corresponding trading pairs. If you would like to enter the trading pair you want to view, simply type it into the 

 icon to place frequently viewed trading pairs in the Favorites column. 

If you see a 10x label beside a certain trading pair, it indicates that the trading pair is supported in Spot Margin Trading.

There are various types of orders available with Bybit Spot trading. Learn more 

Using Market Order as an illustration, create a Spot Order with the following steps.

Input your order value or quantity. If you place your order through other order types, such as 

, you will need to enter your order price or trigger price.

For market buy and sell orders, the default is to place an order by value (market buy) and by quantity (market sell). You can click on 

 to switch your order placement preferences. 

Please note that when you select 100% of your available balance to place a market buy or market sell order, there may be a slight difference between the maximum amount or quantity displayed and the value or quantity calculated by our system. This difference acts as a buffer against potential market price changes, ensuring that your order will be placed smoothly even if the price fluctuates slightly.

A confirmation window will pop up. Once you’ve verified your order details, click on 

Congratulations! Your order has been successfully placed.

You can view your current unfilled or untriggered orders on the 

 tab. If you would like to view all current orders across all trading pairs, simply check the 

tab on the Spot Trading page to view up to 50 records from the last six (6) months. Similar to 

box to view order history or trade history from all trading pairs.

To view records for more than the last six (6) months, please refer to the 

If you would like to cancel Spot orders, navigate to the 

 orders from the upper right corner. It's important to note that if you have selected the Show all trading pairs option, clicking on 

 will cancel orders from all trading pairs.

Bybit allows you to trade Futures, Options and Perpetual Contracts with up to 100x leverage.

. Click on any one of them, and it will bring you to the corresponding trading interface.

 You can open a position in two (2) different ways.

Alternatively, you can place basic and advanced orders in the order zone, and also personalize the setting for each order based on your trading strategy. 

 that you would like to use for your order. The default order will use 

Select the type of order you wish to place, and the order zone will show the relevant fields to fill accordingly.

You will need to set up various prices, such as the order price and trigger price, depending on your order type.

Input your order amount. You can place your order by the quantity, by cost (calculated as Initial Margin + Trading Fees to Open and Close), or by order value (derived from the required margin and selected leverage). Based on the order placement preference selected, you will see the order amount in the other two (2) options and both directions in the box below.

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How to Open a Trade in Bybit

Stacks, a leading Bitcoin Layer 2 network, is preparing for the Nakamoto upgrade, its most significant hard fork to date, which aims to transform it into a true Layer 2 solution.

Daily Top Performer — Helium Network (HNT)

Last week, the SPX index was up 2.7%, driven by robust tech earnings and mixed economic indicators. Key events this week include earnings reports from major companies like Apple, Amazon, and McDonald's, as well as the release of April's nonfarm payrolls and a Federal Reserve meeting, where interest rates are anticipated to remain steady. The broader cryptocurrency market is mixed, with Bitcoin rising by 0.05% and Ether dropping by 0.07%, in the past 24 hours.

Today’s outperformer is HNT, which jumped 16.7% after Helium Foundation 

 voting results show mixed outcomes with plans for HNT Re-Vote.

Helium Network (HNT), launched in July 2019, is a blockchain-based network that connects IoT devices using over 25,000 Hotspots, which serve as network nodes using LoRaWAN protocol. It aims to create a more efficient, privacy-focused IoT ecosystem addressing privacy issues prevalent in popular IoT platforms like Google and Amazon. The Helium Foundation reported that the HNT proposal failed due to low voter turnout, while the IOT and MOBILE proposals passed with over 91% approval. A re-vote for the HNT proposal is planned. Additionally, HIP 112 failed with 42.52% approval, and HIP 117 passed, adding MNTD as a hotspot vendor for the MOBILE subNetwork with 93.88% approval.

Check Out the Latest Prices, Charts, and Data of 

Stacks, a leading Bitcoin Layer 2 network, is preparing for the 

, its most significant hard fork to date, which aims to transform it into a true Layer 2 solution. This upgrade will decrease block times from 10 minutes to between five and ten seconds, enhancing transaction finality by decoupling from Bitcoin’s block time and improving resistance to reorganizations. The upgrade, supported by Trust Machines, also signifies a shift in using Bitcoin beyond its traditional roles, potentially expanding its utility in DeFi applications. Stacks, not compatible with Ethereum's EVM, plans to integrate with other networks like Near Protocol, Solana, and Aptos. The hard fork is scheduled for early June. 

The ETF market, particularly GBTC, FBTC, and other funds, recorded significant outflows, totaling $217.6 million on April 25th, continuing into April 26th with $83.6 million in outflows. 

Following a significant depeg event in its ezETH token, Renzo, a major liquid restaking protocol, has 

. The changes, made in response to community feedback and the ezETH depeg incident, include moving the claim date forward, increasing token allocation for Season 1 ezPoints holders from 5% to 7%, and expanding eligibility to 99% of points holders. The adjustments come after ezETH lost over 70% of its value, exacerbated by miscommunications about the airdrop and lack of immediate redemption options, which forced holders to sell on secondary markets. Renzo plans to enable ezETH redemptions after completing ongoing code audits in about four weeks.

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Stacks Prepares for Major Nakamoto Upgrade to Enhance Bitcoin Layer 2 Capabilities

Explainers

Altcoins

bitsCrunch is a decentralized data platform that provides AI-powered NFT analytics to help creators and investors access the best quality data on NFTs and collections.

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Skinny_Banner-1600x400.webp

, the circulation of counterfeit copies and various other swindles within the NFT sector are still an unfortunate reality. Viewing this mess, many have steered clear of the market, despite having a genuine interest in NFTs.

Some data providers have set up tools for NFT analysis, such as fraud analytics, to help users avoid scams. However, most of these providers operate as centralized entities, lacking complete transparency in their processes. Moreover, typical 

 rarely invest deeply in identifying fraud, with most of them focused on NFTs’ price history, rarity rankings and other basic data points.

In order to address these challenges, bitsCrunch (BCUT), a new decentralized platform, aims to offer NFT enthusiasts tools to conduct thorough forensic analytics and mitigate the risk of falling victim to scams. Leveraging AI models, bitsCrunch delivers timely, granular and comprehensive analytics, along with all the latest details on NFTs and collections. Importantly, bitsCrunch’s decentralized setup ensures the transparency of its NFT analytics and operations security.

 (BCUT) is a decentralized NFT data network that utilizes its 

 blockchain to leverage AI algorithms, providing comprehensive NFT analytics such as forensic analysis and fraud identification.

 Users can submit queries to the bitsCrunch network concerning NFTs and collections, and obtain detailed analytics and fraud estimates in return.

The platform is a welcome player in a sphere awash with scams and fraudulent activities. It’s estimated that nearly half of all NFT trade represents wash sales, while every tenth NFT is an outright counterfeit. Using its decentralized network of operators and contributors, bitsCrunch employs AI models to detect fraudulent or suspicious properties related to queried NFTs.

bitsCrunch was founded in Germany in 2019 by four technology professionals: Vijay Pravin Maharajan (CEO), Ashok Varadharajan (CTO), Saravanan Jaichandaran (Chief Data Scientist) and Ajay Prashanth (CMO). The project’s innovative approach to NFT forensic analysis has attracted significant investor interest, with bitsCrunch boasting a solid $6.75 million raised over three funding rounds. Having launched its testnet in mid-2023, bitsCrunch 

The crucial part of bitsCrunch’s value proposition is its heavy use of AI models for NFT analytics, valuation and fraud detection. The platform’s focus on AI and its truly decentralized status make it a unique project in a field where the majority of analytics providers are Web 2.0 centralized entities that mostly deliver basic NFT stats.

One core product based on bitsCrunch’s platform is 

, a web portal that provides comprehensive analytics on leading NFT collections. Some key stats you can obtain on Unleash NFTs include market overview, wash trading analytics and trade volumes, as well as information on top collections, marketplaces, individual NFTs and crypto wallets.

Key features and services of bitsCrunch include the following:

The bitsCrunch platform leverages a DPoS blockchain that’s made up of several types of nodes, each with its specific functionality. 

There are two Operator nodes on the chain — Query Processor Nodes and Data Enricher Nodes. The former directly interacts with consumers of the platform, i.e., users who submit queries for NFTs and collections. These nodes process user requests and provide finalized results.

The second type of Operator nodes, Data Enricher Nodes, are the main entities that source data from external blockchains, process it and enrich it with the necessary analytics per the user's request. Data Enrichers interact with Query Processors to receive details of user requests and provide the necessary data. While Query Processors can be thought of as the front end that interacts with users, Data Enrichers are the back end that does the heavy lifting regarding data sourcing and processing.

There are also other types of nodes with important functionality on the network. One of these is Indicator nodes, who monitor the external environment — NFT marketplaces, blockchains and other platforms — and signal network participants as to which sources and metrics to scan.

Another type, Contributor nodes, participate on the platform by contributing AI and machine learning (ML) algorithms, programming code and suggestions for network improvement.

Finally, there are Delegator nodes. These consist of users who delegate their funds to the Operator nodes to support network operations.

The platform's data architecture is divided into four layers, per the image below.

The Data Query layer is where users and Data Query nodes interact. Within the Data Processing layer, Data Enrichers carry out their data enrichment operations and pass the results to Query nodes. Data Enrichers also source external data at the Data Acquisition layer. Finally, the fundamental Data Storage layer encompasses all the other layers, and is designed for overall data management and storage.

While there’s a wide array of use cases enabled by bitsCrunch in the NFT market, some of the major applications include the following.

bitsCrunch’s native token is BCUT, launched on Feb 20, 2024. The token has several important functionalities on the network:

BCUT is a supply-capped token, with a maximum and total supply of 1 billion. The token’s supply distribution shares are illustrated in the chart below.

As of Feb 26, 2024, the BCUT token has been on the market for just six days and is trading at $0.328. In the token's minimal price history, its all-time low (ATL) and all-time high (ATH) were recorded on Feb 22, 2024, at $0.2847 and Feb 20, 2024, at $0.4906, respectively. The current trading price of BCUT is 33.1% lower than its ATH and 15.3% higher than its ATL. Realistically speaking, BCUT needs a bit more time on the market to let us gauge its price dynamics.

As for long-term forecasts for BCUT, they’re all quite bullish. PricePrediction expects the token to 

 $0.7657 in 2025 and $4.96 in 2030, while DigitalCoinPrice predicts 

Despite being so new on the market, BCUT might represent a good investment opportunity due to the following factors:

1) bitsCrunch is a unique, truly decentralized NFT analytics solution that leverages AI. Algorithms used by the platform help improve the accuracy of NFT analytics, while decentralization contributes to data transparency and security. Although there are many NFT analytics platforms around, virtually none replicate the precise operational model used by bitsCrunch. 

Among the project’s most formidable competitors are players such as the Nansen blockchain analytics firm, Rarity.Tools, Rarity Sniper, DappRadar and Dune. All of these are centralized organizations, and the majority, with Nansen being an exception, make limited or no use of AI in their NFT analytics.

2) The BCUT token has debuted in the highly promising AI category of cryptocurrencies, which crypto investors and venture capitalists continue to target eagerly. The AI crypto niche has experienced tremendous growth over the past couple of years, typically well above average market growth rates. BCUT might benefit over the coming months and years from this category-wide bonanza.

3) In addition to providing various NFT data points and insights, bitsCrunch heavily specializes in fraud detection and the analysis of scams. This pioneering service is likely to attract more NFT creators seeking to safeguard their assets and ensure the integrity of their transactions.

The BCUT token is available on Bybit via Spot pair with USDT (

). Moreover, by buying BCUT on Bybit's Spot market, you get a chance to win a share of the 1,750,000 BCUT + 50,000 USDT prize pool allocated to 

bitsCrunch is the first major undertaking in the NFT analytics niche that combines AI technology and blockchain-based decentralization. No longer will you have to rely on centralized analytics tools, whose self-serving interests and corporate goals might compromise the security and transparency of your NFTs and NFT transactions.

The platform will undoubtedly have a significant impact on the NFT field, thanks to its high degree of data transparency. This should help many NFT creators and traders — who often keep their activity to a minimum, or stay away from the market due to scams and fraud — to participate more confidently in NFT trading. bitsCrunch might not be able to do away with all the wash trading, counterfeit trade and other NFT scams, but it truly looks like a platform that will help minimize all of that pernicious activity.

In conclusion, 2024 could herald a big cleanup in the NFT market — thanks to bitsCrunch's AI-powered platform!

bitsCrunch (BCUT): Protecting the NFT Ecosystem With AI

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards