OKX to Launch PANW and IREN Stock Perpetual Contracts

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 days ago

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Perpetual Contract Expansion: OKX has announced the launch of perpetual contracts for PANW (Palo Alto Networks) and IREN (Iris Energy) stocks, marking an expansion of the exchange's derivatives offerings into equity-linked products, catering to the growing demand for diverse investment tools.
International User Convenience: The stock perpetual contracts allow traders to gain price exposure to PANW and IREN without directly owning the stocks, which is particularly beneficial for international users facing restrictions on purchasing U.S.-listed securities, thereby enhancing OKX's competitiveness in the global market.
Industry Diversification: The selection of stocks from cybersecurity and Bitcoin mining infrastructure indicates OKX's strategy of diversifying its equity derivatives, attracting investors from different sectors and increasing market appeal.
Market Risk Advisory: While OKX has not disclosed specific margin and leverage parameters, traders should be aware of the risk profiles associated with these contracts, especially considering potential regulatory restrictions and volatility risks in certain regions.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	45243.106	52187.008	57521.096	64464.998	69799.086	76742.988	82077.076
Fibonacci	52187.008	56877.2	59774.806	64464.998	69155.19	72052.796	76742.988

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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