In response to institutional investors’ concerns about the risks of trading in a new asset class, TMX Group, Canada’s major stock market operator, has revealed plans to launch its first-ever crypto futures product.

While speaking to Reuters, TMX Group’s John McKenzie said that the firm plans to release the product on the Montreal Exchange later this year. According to Mackenzie, “more institutional investors and dealers are […] holding more crypto assets within their portfolios or for their clients or in ETFs,” adding they are working on how to mitigate risk due to crypto’s huge volatility.

Cointelegraph reached out to TMX Group for more details regarding this development. This article will be updated pending new information.

Cryptocurrency assets have suffered significant drops in recent months as investors sought safer investments amid expectations of interest rate hikes by central banks. They’ve made progress in recovering some of their losses in recent weeks, with Bitcoin (BTC) regaining past the $42K mark and the price of Ether (ETH) pulling back to retest $3,000 support levels…read more.

Bitcoin (BTC) staged new retests of $38,000 resistance on Jan. 26 as optimism increased over a potential recovery to $40,000 and higher.

Next stop a $40,000 retest?

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued the rebound that began on Monday.

At the time of writing, two breakthroughs of $38,000 had occurred, with the pair lingering just below that level amid further direction cues.

For Cointelegraph contributor Michaël van de Poppe, the signs were encouraging, with the stage being set for a potential exit from the $30,000–$40,000 corridor.

“Bitcoin held $36K and tested $38K already. If that one tests again, we are likely to get a breakout and potentially test $40.7K,” he told Twitter followers.

Almost as bullish on short timeframes was trader, analyst and podcast host Scott Melker, known as the “Wolf Of All Streets.”

“Target is $39,600, which as you know is ‘coincidentally’ the key resistance on higher time frames,” he said as part of his latest Twitter update, identifying a cup and handle pattern on the hourly chart…read more.

Cryptocurrencies rebounded strongly on Tuesday, breaking a string of heavy losses over the previous few days and defying broad weakness on the stock market.

Financial markets have experienced wild volatility as investors await the outcome of the Federal Reserve’s first policy meeting of the year this week. Investors will scour policymakers’ comments to gauge how quickly the central bank is likely to raise interest rates this year and withdraw the economic stimulus put in place during the depths of the pandemic.

The era of ultra-low interest rates and benign inflation appear to be coming to an end, which has rattled the asset classes that benefit most from this combination, such as technology stocks and speculative assets like bitcoin. The Nasdaq 100 index of tech stocks is now firmly in correction territory, while bitcoin is now worth less than half of what it was when it hit a record of around $69,000 in November.

Leading digital currency bitcoin was up 8% in the last 24 hours to $36,455, having hit a six-month low below $33,000, which analysts said may leave it vulnerable to another selloff. Ether was up 7% on the day at around $2,417, but was still nursing a weekly loss of 23%, according to CoinMarketCap…read more.