As an analyst with over two decades of experience in the financial markets, I must admit that the news of Bitcoin Options ETF set to start trading today has piqued my interest. Having witnessed the evolution of traditional options markets and their impact on stock prices, it’s intriguing to see this innovation extend to the digital asset space.
Today, it’s expected that Bitcoin Options ETF will begin trading, bringing cheer to the wider cryptocurrency market. Notably, this approval could boost confidence that Bitcoin could surge up to $200K soon. Additionally, this development follows a resurgence of interest in US Spot Bitcoin ETF, which started the week with a significant increase in investments, suggesting an uptick in institutional interest in digital assets.
Bitcoin Options ETF Set To Start Trading Today
According to a recent Bloomberg report, Nasdaq Inc. is considering enabling options trading for BlackRock Inc’s Bitcoin ETF starting today. If approved, this Bitcoin Options ETF would give traders the ability to use derivative contracts to either invest in or bet against the most valuable cryptocurrency by market capitalization, Bitcoin.
This action has ignited a sense of hope across the wider market, particularly following the achievement and escalating curiosity surrounding the US Spot Bitcoin Exchange-Traded Fund (ETF). As per Farside Investors’ statistics, the US Spot Bitcoin ETF saw an inflow of approximately $254.8 million on November 18, after previously experiencing outflows for two consecutive days the previous week.
Significantly, in a Monday report by Bloomberg’s ETF IQ, Alison Hennessy, head of Nasdaq ETP Listings, mentioned that their firm intends to launch and start trading with an options ETF as early as “the day after tomorrow.” Moreover, she expressed optimism about attracting substantial interest from traders when these options are listed on the IBIT.
Additionally, a representative from Nasdaq also verified the launch happening today. Notably, this news follows closely on the heels of the U.S. Commodity Futures Trading Commission (CFTC) approving Bitcoin Options ETF, an event that has ignited debates within the market.
In recent times, Bitcoin (BTC) has seen a significant surge, reaching a fresh all-time high following Donald Trump’s election victory. This upward trend is largely attributed to investor optimism about a more defined regulatory framework and pro-crypto policies in the U.S., particularly under the Republican administration. Consequently, many investors are hopeful that this bullish trend will persist in the near future.
BTC To Hit $200K?
Today’s Bitcoin price hovered around $91,800, showing little movement. However, its one-day trading volume significantly increased by 52%, reaching approximately $73.59 billion. The leading cryptocurrency reached a peak of $92,596 within the last 24 hours. Additionally, Bitcoin experienced a monthly growth of 34%. Furthermore, the interest in Bitcoin Futures contracts has grown by over 1.5% as this text is being written, suggesting robust market faith in the cryptocurrency.
In light of this development, the excitement about the prospect of a Bitcoin Options ETF being introduced in the U.S. has added to market enthusiasm. Meanwhile, BCA Research has forecasted that the value of Bitcoin could surge to $200,000 as it approaches the $100,000 milestone.
Meanwhile, renowned cryptocurrency market analyst Ali Martinez has also expressed a positive outlook for Bitcoin more recently. In his latest blog post, Martinez emphasized past trends of Bitcoin, suggesting that if it adheres to its previous patterns, it could potentially reach $150,000 in the future.
As a crypto investor, I’m excited to share insights from fellow analysts in our field. Just like me, Crypto Rover believes that Bitcoin could surge beyond the $200K mark based on his analysis of the current chart. Furthermore, Tom Lee, Head of Research at Fundstrat, foresees a continued rally for BTC in the near future, which will undoubtedly stir more excitement within our market.
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2024-11-19 11:28