Bitcoin ETF

Bitcoin

James

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-respond-positively-to-blackrocks-bitcoin-etf-approval/" data-wpel-link="internal">Investors Respond Positively to BlackRock’s Bitcoin ETF Approval</a> 
Despite a recent drop to $87,000, Bitcoin (BTC) has made a significant recovery, currently reaching an all-time high of $94,477. Experts attribute this surge primarily to the approval of BlackRock’s iShares Bitcoin Trust (IBIT) for option trading. On its first day, IBIT achieved a trading volume of $1.9 billion, and analysts believe it could further elevate Bitcoin’s price. Many predict that BTC may surpass the $100,000 mark within a week. 
<h2 style="text-align: justify" id="strong-blackrock-s-etf-attracts-significant-attention-strong">BlackRock’s ETF Attracts Significant Attention</h2> 
BlackRock, the world’s largest asset management firm, launched the first spot Bitcoin ETF approved for options trading. It reached a trading volume of $1.9 billion on its first day. Bloomberg Intelligence analyst James Seyffart noted that this figure corresponds to 354,000 contracts, with 289,000 being calls and 65,000 puts, indicating a positive market sentiment towards Bitcoin. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-408397" src="https://coin-turk.com/wp-content/uploads/2024/11/Bitcoin-ETF-Opsiyon.png" alt="" width="614" height="488"> 
Eric Balchunas, a senior ETF analyst at Bloomberg, described the recorded trading volume as “unprecedented.” In comparison, the BITO ETF only managed a volume of $363 million on its first trading day. Balchunas emphasized that this massive volume reflects market optimism and expectations that Bitcoin’s price could double in the coming month. 
<h2 style="text-align: justify" id="strong-bitcoin-market-volatility-may-decrease-strong">Bitcoin Market Volatility May Decrease</h2> 
The acceptance of Bitcoin by institutional investors is boosting confidence in the market. According to market expert Dennis Dick, the increase in Bitcoin ETF option trading volume could stabilize the market. He stated, “As open interest rises, natural buyers and sellers emerge, enhancing liquidity and reducing volatility.” 
Moreover, major ETF providers Bitwise and Grayscale are preparing to launch their own Bitcoin ETF options, potentially increasing market activity. Currently, Bitcoin, trading at $92,700, continues to attract attention. 
Prominent investor Kevin O’Leary suggested that Bitcoin could exceed $100,000 before the year ends, asserting that it would face little resistance in reaching this level. Experts anticipate that the market will expand significantly due to the impact of ETFs, paving the way for a new era for Bitcoin. 
The post <a href="https://en.coin-turk.com/investors-respond-positively-to-blackrocks-bitcoin-etf-approval/" data-wpel-link="internal">Investors Respond Positively to BlackRock’s Bitcoin ETF Approval</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Investors Respond Positively to BlackRock’s Bitcoin ETF Approval

Table of Contents

COINTURK NEWS

Other articles published on Nov 20, 2024

Kaspa (KAS) Price Set for 500% Gains Following Elongated Accumulation Period

The 5 Best Cryptos to Invest in Today Before They Hit New Highs

South Korea Sets Tax Rate for Cryptocurrencies in 2025! Here Are the Details

What does it mean to burn crypto? Crypto burning explained

CryptoPunks Prices Soar: Floor Price Hits $112,000 Amid Rally

Dune Analytics Report: Most Memecoin Traders Lose Money

Join our free newsletter for daily crypto updates!