BitMEX

Dear BitMEX Users, Today, we share with a very heavy heart that BitMEX exchange will shut down its operations, effective 23 September 2026 at 04:00:00 UTC. The owner and operator of BitMEX, HDR Global Trading Limited, has made the difficult decision to close operations following a strategic review of the business. It may not look the same today, but we are proud of our 11+ year legacy and the role we played in shaping the crypto industry. We invented the 100x leverage perpetual swap, which for most of you, was the first step to your crypto trading journey. It is now the most traded financial product in the crypto industry, adopted by thousands of users and exchanges. And we remain proud of our robust security infrastructure, which has allowed us to maintain a flawless track record of 0 customer funds lost to hacks in our entire operating history. We want to reassure you that your assets remain fully safe and under your control during this transition period. This announcement is just to give enough time to ensure a smooth withdrawal process for everyone. From today we strongly encourage all users to close their positions and withdraw their funds as soon as convenient. For more details on the full process, please read our blog: https://lnkd.in/eiAVtNAN BitMEX was once home to some of the greatest traders today. Our team has dedicated tremendous effort and passion into building the platform into what it is, and we are glad to have reached some of you during your time with us. To everyone who has traded, supported, and grown alongside us - thank you for your trust over the last 11 years. The BitMEX Team

Most traders see a funding rate and react. The best traders ask why it exists — and position accordingly.    BitMEX's Q2 Derivatives Report breaks down three structural factors that cause the same asset to pay wildly different funding rates depending on where you trade it. Each one points to a trade you can put on today. 1️⃣ The collateral you use: Two Bitcoin perps on BitMEX. Same asset, different margin currency. The funding gap between XBTUSD and XBTUSDT has been exploitable 94% of the time over 3.5 years.     2️⃣ Which exchange you're on: Hyperliquid pays 7.17% more funding per year than Binance on the same BTC perpetual. Professional traders can't easily close the gap because onboarding a DEX at institutional scale is operationally restrictive. That friction is the trade.    3️⃣ How the price feed is built: Crude oil perps don't track spot. They track CME futures. When the curve rolls a certain way, funding swings to extremes that have nothing to do with oil's actual price. In April, WTIUSDT hit −531% annualised. The traders who understood why walked away with a ~70% gain in a single cycle. Funding rates are core to crypto trading – but for top traders, they're pure alpha. Full breakdown of the structural gaps and how you can exploit them in the report: https://lnkd.in/g5fdD6sC

Has #Bitcoin reached its bottom? Bitcoin’s slide below $60k has triggered a critical re-evaluation of the current cycle. While historical data suggests we're nearing a historical bear market timeframe (12-14 months), BTC price action tells a different story. Bitcoin is only down ~50% from its $126k peak – significantly shallower than the 73%–93% seen in previous cycles. Our latest analysis dives into the "why" - examining the shift in ETF flows, MicroStrategy’s pivot to defence, and why AI is currently capturing the marginal risk dollar. The bottom line? Look towards the $45k-55k range as the accumulation zone and scale in as the signals above start to trigger. Read the full analysis here: https://lnkd.in/geBBgj-e

Retail traders often interpret sideways consolidation at market highs as a constructive pause before the next leg up. Institutional players, however, recognise these zones as the foundation of the Wyckoff Distribution Pattern—a structural framework mapping how large-scale market participants systematically offload massive positions without prematurely crashing the price. Understanding the transition from an asset's peak to its markdown phase is critical for capital preservation. Swipe through to explore the five-phase Wyckoff schematic, from identifying volume divergence and institutional liquidity traps to executing risk-defined short positions, and head to our blog for a deeper dive on the full framework: https://lnkd.in/dXx-Pbaz

Warren Buffett’s $397B Warning: What It Means for Crypto Traders Warren Buffett has always been a value investor, but his recent behavior at the 2026 Berkshire Hathaway Annual Meeting should be a wake-up call for anyone trading highly leveraged instruments. With $397 billion sitting in Treasury bills and a net selling streak spanning 14 consecutive quarters, Berkshire isn't just rebalancing; they are positioning for a regime where, in Buffett's words, "the stock market is a church with a casino attached," and the casino is winning. For crypto traders, this macro stance is critical. The Buffett Indicator sits at 210% — higher than levels he previously labeled "playing with fire." When the macro environment shifts from "risk-on" to "risk-off," Bitcoin’s correlation with equities spikes and liquidity thins. In these regimes, the traders who survive are those who understand that: 1️⃣ Correlation is a regime, not a constant: When BTC–SPX correlation climbs above 0.60, you are trading an equity-linked beta. 2️⃣ Crowding kills: High funding rates in BTC perps signal the "casino" mood is at a peak. The casino is open, but you don't have to play like a gambler. Read the full guide: https://lnkd.in/guVMVGYK

The best infrastructure is invisible to users and invaluable to the business built on it. Banxa's integration into BitMEX delivers licensed, MiCA-compliant fiat-to-crypto rails built on local payment methods that scale globally. For platforms operating in regulated markets, that means reduced onboarding friction, stronger user acquisition, and the compliance foundation to grow with confidence. Infrastructure isn't just overhead, it's a competitive advantage. Hear it from our Chief Product & Growth Officer, Shaun Heng 👇

The BitMEX 2026 Trading Cup is now LIVE ⚽ The whistle’s been blown and the market’s officially open for the season's premier competitive event. Whether you align with Team Home or Team Away, the next few weeks represent a direct battle for execution dominance. We’ve put a 200,000 USDT prize pool supported by exclusive hardware lucky draws and tiered account bonuses. The Trader’s Gameplan: 1️⃣ Volume Aggregation: Convert high-frequency derivatives and spot execution into climbing team leaderboard metrics. 2️⃣ The Scout's Report: Leverage predictive analytics beyond the charts on our socials and correctly forecast daily match scores to secure direct USDT cash injections. Choose your side, deploy your capital strategies, and claim your share of the glory. Enter the Arena 👉 https://lnkd.in/g-jh924m

On 12 June, SpaceX ($SPCX) lists on the Nasdaq at a staggering ~$1.77tn valuation. While retail argues over the hype, professional derivatives traders are targeting blatant structural pricing errors across platforms. Here are two setups to exploit this pre-listing window before Wall Street even opens: 1️⃣ The Structural Edge: Binance’s pre-IPO contract undergoes a rebase on 10 June, whereas our $SPCXUSDT contract does not. Because we have set BitMEX funding rates to 0%, you can capture an estimated ~3.5% yield before leverage in just days with zero carry costs. 2️⃣ The Relative-Value Pair Trade: Long $TSLA / Short $SPCX. This play exploits the valuation asymmetry between a net-profitable, catalyst-rich leader and an AI-capex-heavy IPO candidate within the same ecosystem. When the market infrastructure creates a clear dislocation, the fastest execution wins. Our latest analysis breaks down the mechanics behind these strategies. Read the full analysis here: https://lnkd.in/gacBXcQK

Last week, Zcash ($ZEC) collapsed nearly 50% in under 48 hours — plummeting from a peak of $624 down to $309. What looked like the best-performing major privacy coin of the spring transformed into a liquidation cascade visible from orbit. If you’re looking at the chart now, you need to know if this is a falling knife or a generational entry. Here is what actually went down: 1️⃣ The Zero-Knowledge Flaw: A critical soundness vulnerability was discovered in the Orchard shielded pool. In theory, it allowed for unlimited, undetectable counterfeiting. 2️⃣ The AI Auditor: This wasn't found by human eyes. A custom AI auditing framework running Claude Opus 4.8 cracked open a bug that had sat undetected in the code for four years. 3️⃣ The Swift Patch: The Zcash Foundation executed a textbook emergency response, patching the circuit via the NU6.2 hard fork in just five days. No funds were lost. 4️⃣ The Narrative Break: The tech was fixed, but the damage was done. Because Orchard transactions are private by design, there is no cryptographic way to prove the pool wasn’t exploited before the patch. 5️⃣ When your most prominent institutional backers — including Arthur Hayes — realised the thesis shifted, the exits got crowded fast. Is the privacy coin narrative dead, or has the market severely overreacted to a successfully patched bug? We’ve broken down the technical realities, the critical support levels to watch and how to trade the volatility. Read the full breakdown on the BitMEX Blog 👇 https://lnkd.in/g3deiVgK

Global energy markets are flashing a major warning sign: hydrocarbon inventories are plumbing historic lows while high-multiple tech stocks continue to decouple from physical reality. In the latest edition of CTD, Arthur Hayes performs a brutal "reality test" on the macro landscape, explaining why the ongoing conflict in the Strait of Hormuz is on a collision course with the global AI infrastructure boom. Key takeaways from this edition: ⏩ The Energy Constraint: Skyrocketing spot energy costs will inevitably compress the profit margins of heavily capital-intensive AI model companies. ⏩ The Liquidity Cannibal: Since late 2022, AI data center borrowing has completely swallowed $1.5 trillion in U.S. M2 dollar expansion, starving crypto of its expected upward momentum. ⏩ The Trillion-Dollar Supply Wall: An unprecedented wave of massive tech listings arriving by September will over-saturate buyer demand and test the structural limits of market liquidity. Traders should remain vigilant: prioritise capital preservation over cyclical complacency and watch for an aggressive political pivot against the technology sector as November approaches. Get the full story on our blog: https://lnkd.in/gbXdkNfr