Bitcoin Makes New All-Time High of $94,000 as ETF Options Go Live
Spot bitcoin exchange-traded funds options are making solid volume on their first day.
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Spot bitcoin exchange-traded funds options are making solid volume on their first day.
The latest price moves in bitcoin (BTC) and crypto markets in context for November 19, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The decentralized exchange for futures and options trading plans to go live on Arbitrum on Jan. 8.
Options trading on spot bitcoin exchange-traded funds could become available as soon as Tuesday, according to Nasdaq.
Shares in Trump media experienced a similar dynamic before the recent price slide.
BTC blasted through the $90,000 resistance level on Wednesday, defying the dollar strength.
(Delphine Ducaruge /Unsplash)
“It looks like bitcoin options traders appear to be hedging their bets to the downside ahead of the U.S. election this week,” one observer said, noting pricier puts on the CME.
While volatility is price-agnostic, recent flows in the options market suggest bullish expectations.
Some $350 million notional value of November call options traded on CME with a breakeven bitcoin price of nearly $80,000, anticipating a rally next month, one analyst noted.