BitMEX Outflow $73M after CFTC Investigation – A Bomb for Bull Market?

According to London-based blockchain data provider Token Analyst, BitMEX’s BTC outflow reaches $85 million over 24 hours after US Commodity Futures and Trade Commission began a month long investigation of BitMEX over its high leverage bitcoin trading option and the legality of allowing US citizens to access the exchange. BitMEX’s BTC outflow exceeded inflow by $73 million (only $12 million came in BitMEX), which appeared to be abnormal in comparison with other exchanges. The month long probe will investigate the legality of operations on the platform that was not registered with the regulatory body before allowing Americans to trade. Some commentators online considered the recent spike of outflows on BitMEX a sign of panicked leaving.

A Bomb for BTC Bullish Market?

The reported CFTC investigation revolves around whether BitMEX was providing services to US traders. Any exchange that allows US citizens trading needs to be CFTC-registered. According to some clients in BitMEX, due to the terms of service do list the US as a restricted jurisdiction, their accounts have been shut down on suspicion of they are US customers. Though BitMEX restricted clients from US, most traders would set up a VPN in order to get around geo-blocking or other restrictions. The BTC outflow from BitMEX possibly represent American investors withdrawing funds from the exchange in order to keep them from the CFTC. Furthermore, though some suggest that the outflow BTC will find its way into the spot markets. It is likely that much of this liquidity will find its way onto other exchanges or even hardware wallets. Even if they were to be sold off, that sort of amount shouldn’t cause a substantial dip in BTC price.

BitMEX Alternative – 100x Leverage Bitcoin Exchange for US Traders

Bexplus is another popular and professional cryptocurrency futures exchange. Established in late 2017 in Hong Kong, it has served customers in 35 countries all around the world, including the United States, UK, Brazil, Australia, Japan, etc. Bexplus offers 100x leverage futures trading on BTC, ETH, LTC, EOS and XRP with NO spread. New traders in BTC futures trading area prefer Bexplus because of its user-friendly and well-designed trading interface. It also provides trading simulator with 10 BTC preset for new traders. Beginner can try to trade BTC futures contracts with 100x leverage without losing money.

Popular activities are ongoing in Bexplus

Get 10% Deposit Cashback

Deposit BTC and trade BTC futures in Bexplus, you will get 10% cash back. For example, if you deposit 5 bitcoin in your account, you will get 5.5 BTC credited. The more you deposit, the more cashback you will get.

Win iPhone XS Max

Join July gift activity before July 31, you can win iPhone XS Max, iPad Air 3, Apple watch series 3 and etc. Each user is eligible to apply for one gift only.

Enjoy Referral Rewards

Invite friends to register and trade in Bexplus, you can earn 15% referral rewards. It will be counted with BTC and directly credited in your account. Register and account with the official invitation code 8T5vQ, you can enjoy 10% off transaction fee. Come to join Bexplus now and make profits with 100x leverage BTC futures trading now!