Bitcoin (BTC) continues its upward trajectory this Wednesday (20) and operates above the level of US$ 93,000.00, after reaching a new historic high on Tuesday afternoon (19), driven by the debut of options of BlackRock’s spot Bitcoin exchange-traded fund (ETF).
Around 9 am (Brasília time), the biggest cryptocurrency in the world registered an appreciation of 1.7% in the accumulated 24 hours, quoted at US$ 93,577.33, according to data from the website CoinGecko. Yesterday, Bitcoin reached US$94,040.99, marking its new highest price in history.
The market has recorded great euphoria since Donald Trump’s election as president of the United States on November 5, as throughout his campaign he was supportive of cryptocurrencies and made several promises that could help make the world’s largest economy more favorable. to the crypto industry.
Since the election, Bitcoin has already risen more than 26%, while in 2024 the gains are around 150%. Investors are now paying attention to breaking the symbolic level of US$100,000.00, which has been a target for the market for years.
Part of the new high recorded by Bitcoin is due to Launch of BlackRock Bitcoin ETF Optionsthe iShares Bitcoin Trust ETF (IBIT), which debuted yesterday and has already had a volume of US$1.9 billion, according to data from Bloomberg Intelligence.
354 thousand contracts were traded, including 289 thousand purchase options (calls), when betting on the asset’s rise, and 65 thousand sale options (puts), when betting on its decline.
Options are derivatives that allow investors to buy or sell a specific asset — the IBIT in this case — at a predetermined price within a specified period, whether to bet on the rise or fall of that asset.
Following the success of IBIT options, manager Grayscale Investments announced that starting this Wednesday it will also have options for its two Bitcoin ETFs, the Grayscale Bitcoin Trust (GBTC) and Bitcoin Mini Trust (BTC).
Despite Bitcoin’s new high, the rest of the cryptocurrency market is not following the movement. This morning, Ethereum (ETH), the second largest cryptocurrency in the world, registered a drop of 1.1%, quoted at US$ 3,101.56, while Solana (SOL) fell 3.8%, at a price of US$ 237, 54.
