CME’s Bitcoin Options See First-Day Volume of $2.3M

Options on bitcoin futures from Chicago Mercantile Exchange (CME) got off to a good start on Monday, seeing trading volume reach 55 contracts in the opening session. That amounts to a notional volume of about $2.3 million or 275 bitcoin, with each contract worth 5 BTC. Also, only call options traded on the first day, as noted by Skew.com, provider of data analytics for Bitcoin and Ether derivatives. An option contract is a derivative based on the value of an underlying instrument that provides the right, but not the obligation,…

Resurgent Bitcoin Will Likely Shrug off Long-Term Bear Cross

View Bitcoin’s short-term technical charts indicate scope for a test of the 200-day average at $9,100. A breakout on a longer duration chart has opened the doors for a rise to $10,000 and above. An impending long-term bearish crossover on the three-day chart is a lagging indicator and is of little concern. The short-term bullish case would weaken if prices print a UTC close below $9,200. Bitcoin is better bid at press time and could maintain its recent upward trajectory despite a long-term bearish indicator making its first appearance in…

Bitcoin Price Moves above $8,500 as Traders Anticipate Significant Growth

At the hour of composing, Bitcoin is trending up 4.5 percent at its present price level of $8,520, which marks a notable increase from recent lows of just over $8,000, which were set last week when the bears attempted to wreck the recent upside. The price of Bitcoin is currently consolidating above the resistance level and the most significant volume node in the visible profile of the visible range, or VPVR. On the off-chance that Bitcoin can complete bullish consolidation above $8,000, then a balanced upward movement may lead to…

CME Bitcoin Futures Options Overtake Bakkt with over $2 Million in Debut

Bitcoin (BTC) futures options trading is now live on the Chicago Mercantile Exchange – CME. The offering went live yesterday Jan. 13 and began trading after it successfully got approval from regulatory authorities.  The CME Group announced this on its website as trading went live. According to the page, Bitcoin futures options were created to satisfy customers’ yearnings. It says it was done “in response to growing interest in cryptocurrencies and customer demand for tools to manage Bitcoin exposure.” It also explains that the options available are based on the regulated CME…

Ultra-Bullish Bitcoin Analyst Predicts $100K Price in Next 24 Months

After a fairly good ending to 2019, Bitcoin has been on a good start in 2020. Since the start of 2020, the Bitcoin price has surged nearly 20% reaching closer to over $8,500 levels. At press time, Bitcoin is trading for a price of $8,534 with a market cap of $154 billion. However, this has got many analysts and Bitcoin enthusiasts talking about future predictions. This has always been the case for Bitcoin which has been the darling of crypto investors over the last few years. A Twitter handle named…

CME Bitcoin Options Trade $2.3M in Debut, BTC Price Hits 2-Month High

Bitcoin (BTC) futures options from CME Group saw volumes in excess of $2.3 million on the product’s first day of public trading, the company has confirmed.  Data from CME’s official website confirmed the successful rollout on Jan. 13, which began as scheduled and ultimately saw 55 contracts change hands.  Investors lap up BTC options products Each contract corresponds to 5 BTC, meaning that at current prices, the 55 contracts were worth $2.34 million.  Bitcoin markets rallied on release day, rising by more than 5% to hit highs of $8,550. Those…

Bitcoin Crucially Smashes Heavy Resistance: Next Bullish Levels Traders Should Watch

Bitcoin rallied more than 5% and broke key hurdles near $8,250 and $8,500 against the US Dollar. BTC price might continue to rise towards $8,780 and $8,800 in the near term. Bitcoin price is gaining bullish momentum above the $8,400 resistance against the US Dollar. There was a crucial upside break above the range resistance near $8,200. Yesterday’s highlighted important bearish trend line was breached with resistance near $8,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct in the short term, but…

Bitcoin Price Breaks Above Key Resistance Levels as Bulls Target $8.6K

Bitcoin (BTC) price has at last crossed above the $8,300 resistance, setting the digital asset up for a run at $8,500 and restoring bullish momentum to the current uptrend which has seen the price rise from $7,655 to $8,536 over the past week.  Cryptocurrency market weekly overview. Source: Coin360 For the second time in a week, the price rose above the oft-referenced descending channel trendline which has served as a long term resistance for the last 7 months. While there are some traders who will have bought the breakout above…

Bitcoin SV Rallies 20%: Here Is Why It Could Surge Further

Bitcoin SV price rallied more than 20% recently and climbed towards the $200.00 resistance. BSV is currently trading with a strong bullish bias and it could even surge above $200.00 and $205.00. Bitcoin SV price is up more than $100.00 this month and doubled in the value against the US Dollar. The price is currently up more than 20% and it tagged the $200.00 resistance. There was a break above a major contracting triangle near $165.00 on the 4-hours chart of the BSV/USD pair (data feed from Kraken). It seems…

Bitcoin Price Rallies 3.7% to Hit 2-Month High

The price of bitcoin (BTC) has risen once again after a successful launch of CME’s bitcoin options surpassed rival Bakkt on its BTC futures contracts in the first day of trade volume. On Jan. 14 at around 00:30 UTC, the price of the world’s largest cryptocurrency by market value rose above an area of resistance that had stifled previous rallies near $8,200 for over a week beginning Jan. 7. As of press time, BTC is changing hands at $8,413 after reaching its highest point in nearly two months at around…