Bitcoin options interest opens new all-time high
Bitcoin's price and trading volume are on the rise, with open demand for Bitcoin alternatives reaching unprecedented levels and exceeding $17 billion.
A record high of $16.35 billion was recorded from this latest high.
The market hype for Bitcoin options continues
Investors have the right to buy or sell the asset on a predetermined date through options. The increase in open interest in Bitcoin options is viewed positively by the market. It shows an increase in investor money flowing into the market.
The execution price is set when the contract starts, and the cost of getting the option, called the premium, is paid at that moment.
In the year On November 10, open demand for Bitcoin options reached a short peak of $18.05 billion, marking the highest point. At the time of publication, it currently stands at $17.5 billion.
Meanwhile, today, popular business analyst Will Clemente highlighted the event to his 693,400 followers and offered mixed reactions.
“Looks like it's high, and so is the market,” replied one X user. When the other said,
“Surely there will be another flood.”
Learn more: How to trade Bitcoin futures and options like a pro
The result of increased speculation from the Bitcoin ETF
Bitcoin remains at the center of discussion in the crypto community amid talk of the recent approval of a Bitcoin ETF by the US Securities and Exchange Commission (SEC).
In the year As of November 2nd, BeInCrypto has highlighted the potential for a major global bull market if Bitcoin ETFs are approved.
The rationale behind this prediction is that a green light for Bitcoin ETFs could unlock a significant amount of institutional capital that has been held in reserve in anticipation of a market-corrected entry point.
According to Lucas Kiely, Chief Investment Officer at YildApp, the adoption of Bitcoin ETFs creates a consolidation cycle, which simultaneously increases Bitcoin's credibility and investment flow.
Learn more: Where to Trade Bitcoin Futures: A Comprehensive Guide
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