Bitcoin Options Trading Reach 200%, CME Says The Next Bull Run Is Here

Bitcoin Options Trading Reach 200%, CME Says The Next Bull Run Is Here

  • Bitcoin options on January 13 will be a game-changer, and the prediction is seen to be true while the options have reached 200% in bulls.
  • Data analysis of CME Group, 122 bitcoin options contracts traded on January 17, and the price of bitcoin showed a bull growth on that day.
  • Two hundred thirty-one contracts were traded with a trading volume of 1155 bitcoins and a value of about $ 12 million as per a recent tweet by CME.

There was an added hype to the long-awaited bull run when Bitcoin options reached trading levels of 200% in the Chicago Mercantile Exchange.

OKEx, an investigational market bureau, launched a report stating that CME’s launch of Bitcoin options on January 13 will be a game-changer, and the prediction is seen to be true while the options have reached 200% in bulls.

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Only after ten days of the initial launch, the bitcoin options have skyrocketed. Skew, which is an Encrypted data analysis department, said that CME Group’s bitcoin options trading performed higher in the first week of launch, trading 610 BTC on Friday.

According to the official data analysis of CME Group, 122 bitcoin options contracts traded on January 17, and the price of bitcoin showed a bull growth on that day. Last Friday alone, the trading volume was about 610 BTC (about $ 5.3 million).

On the same day, Bakkt’s amount valued at only $178,000. Two hundred thirty-one contracts were traded with a trading volume of 1155 bitcoins and a value of about $ 12 million as per a recent tweet by CME.

Open positions have increased with the price of Bitcoin, confirming the upward trend to the market. Bitcoin decreased to around $ 6,430 in December and rose to a mark of $ 9,188 in nearly two and a half months last week.

As of today’s press release, Bitcoin has fluctuated around $ 8,700, and overall, Bitcoin has grown by about 20% this year. Research shows that the majority of traders show a positive response to the future of cryptocurrencies.

In addition to Bitcoin, the Ethereum market is also forming a positive trend. Skew market data analysis shows that traders currently seem to be willing to retain Ether crypto and derivatives and not to sell them. Compared to Bitcoin, the implied spread is already increasing in the area.

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Parth Vig
Parth Vig is a Management student, and a keen observer of Cryptocurrency and blockchain technology, his interest in writing brings him to thecoinrepublic.com, He believes that he has many ideas that he pens down and he feels it would be a great asset for any kind of creative writing.

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