Bitcoin exceeded $ 8500 hours after the Chicago-based derivatives exchange CME launched Bitcoin option contracts. The price of the leading crypto currency was around $ 84.45 TSI.
The last time Bitcoin was traded at these levels was 14 November 2019.
CME passed Bakkt on first trading day
CME, which opened Bitcoin option contracts yesterday, outperformed its competitor Bakkt on the first trading day. On the first day, CME Bitcoin options reached $ 2.19 million, while Bakkt's Bitcoin options remained at $ 1.15 million. This figure is expected to increase exponentially in the coming days.
In a note shared by JPMorgan, interest in Bitcoin option contracts introduced by CME was expected to be great. JPMorgan analysts stressed that the stock market's interest in existing Bitcoin futures contracts has increased dramatically in the last few weeks, reflecting the high expectation of market participants for option contracts.
Bitcoin is being traded for $ 8480 at 09.05 in Bitstamp, the crypto currency exchange.