Bitcoin (BTC) surpassed the $93,500 mark and thus registered a new all-time high price (ATH).
The following graph, provided by TradingViewshows the bitcoin price from the previous ATH, in the BTC-USDT pair with prices from the Binance exchange:
Bitcoin price since November 13. Source: TradingView.
This event occurs on a historic day for bitcoin: today options on the iShares Bitcoin Trust ETF launched (IBIT)which—as CriptoNoticias explained—expands the investment possibilities with this financial product.
Eric Balchunas, senior analyst at Bloomberg Intelligence commented that the debut of IBIT options was successful and that the behavior of traders shows bullish expectations, at least for the remainder of 2024.
The launch of options on the BlackRock bitcoin ETF not only marks a milestone in the history of the financial market, but also reinforces the attractiveness of bitcoin as an institutional and corporate investment asset.
These instruments allow investors to manage risk and more accurately speculate on the future price of bitcoin.
Options especially attract large financial players, such as hedge funds and companies interested in diversifying their portfolios. This increase in institutional participation generates additional demand for the BlackRock bitcoin ETF, creating a chain effect that favors the price of the underlying asset. According to analyst Joe Consorti, “everything changed today in the bitcoin market.”
The growing interest in these financial products not only increases liquidity in the bitcoin market but also reinforces bullish expectations among participants. As Eric Balchunas points out, the early days of IBIT options trading have shown significant appetite for investment strategies that bet on more valuable bitcoin in the near future.
This phenomenon is also amplified by market expectations towards the end of 2024, a year characterized by key events for bitcoinsuch as the consolidation of its narrative as a safe haven asset and the long-term impact of the April halving.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
