The Daily 610 Bitcoin (BTC) Transaction Brought The Record!
The Daily 610 Bitcoin (BTC) Transaction Brought The Record! The pace of the entry of leading cryptocurrency Bitcoin (BTC) into the new year has certainly nailed many investors to their seats. The combination of global events, particularly the incident between the US and Iran, with industry-specific events, such as CME’s new Bitcoin options product, brought about an unexpected rally.
CME has destroyed Bakkt!
CME’s newly launched Bitcoin options product had already signaled a new record, reaching over $ 2 million in trade volume on its first day. The CME also delivered fairly strong data during the first week of the new BTC service. The trading volume of 610 Bitcoins, which was obtained on January 17 and can also be seen from the bottom table, reveals institutional investor interest in the sector. That amount, equivalent to 122 Bitcoin options contracts, is worth about $ 5.3 million.
Bakkt, which generated huge expectations, was able to achieve only $ 178,000 in volume on the same day. Bakkt was actually seen as a development that could have a serious impact on the price thanks to the physically secured Bitcoin transaction. CME’s new product can be interpreted as the actual development that will have an expected impact on BTC.
Bitcoin is trading at $ 8,624 as of the time this paper was penned, and a move similar to CME’s volume on January 17 could certainly raise the price.
First week of CME options closed on a strong note with 610 bitcoin options trading on Friday pic.twitter.com/fNIWp8CDs8
— skew (@skewdotcom) January 20, 2020