RATE Group | Bitcoin Options Trading Volumes Surge as Price Moves Above $9.4K
87074
post-template-default,single,single-post,postid-87074,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Options Trading Volumes Surge as Price Moves Above $9.4K

30 Apr Bitcoin Options Trading Volumes Surge as Price Moves Above $9.4K

Posted at 11:42h in Bitcoin News by

Bitcoin jumped to two-month highs early on Thursday and now looks set to register its biggest monthly gain in nearly a year.

The top cryptocurrency by market value rose to $9,469 at 06:05 UTC, the highest level since Feb. 25, having rallied from $7,700 to $8,900 on Wednesday, according to CoinDesk’s Bitcoin Price Index.

At press time, the cryptocurrency had dropped back to around $8,750, still up more than 36 percent on a month-to-date basis. That is the biggest monthly gain since May 2019, when the cryptocurrency had rallied by 62 percent. It’s now also up 22% on a year-to-date basis.

Bitcoin’s big move higher has revived interest in options or derivative instruments used to hedge against sudden price swings.  

btc-options
Global options volume
Source: Skew

Major exchanges – Deribit, LedgerX, Bakkt, OKEx, CME – registered a total trading volume of nearly $180 million on Wednesday to register a 350% rise from Tuesday’s tally of $40 million, according to data provided by crypto derivatives…

Source link

Tags:
, , , , , , ,