Bitcoin has set a new ATH in the moment

On the evening of Tuesday, November 19, bitcoin BTC $97,542.35 Bitcoin 4.50% Market capitalization $1.93 trillion VOL. 24 hours $5.42 billion set a new all-time high, exceeding $ 94,000. This happened after Nasdaq announced the launch of options trading on spot bitcoin ETFs. This was reported by Binance.

After that, the cryptocurrency market leader grew by more than 4% over the past day, surpassing the previous record of $ 93,450 set on November 13.

After the ATH update, bitcoin fell in price. Despite a 2.24% drop in intraday trading volume, bitcoin’s market share remains unshakable at a solid 59.4%.

At the time of writing, bitcoin’s price reached $ 92,739, its market capitalization is $ 1.83 trillion, and daily sales have stopped at $ 74.80 billion.

It is reported that the launch of options on spot bitcoin ETFs has become an important milestone in the development of the crypto market. It provided retail and institutional investors with new tools for trading and investment.

Currently, the only spot bitcoin ETF in the United States with available options is the iShares Bitcoin Trust (IBIT) from BlackRock, which is showing significant demand.

Bloomberg ETF expert Eric Balchunas noted that on the first day, trading volumes in IBIT options exceeded several hundred million dollars. At the same time, most of the transactions concerned call options, which are bets on further growth of the bitcoin price.

«The development of an onshore derivatives market will increase the maturity of the market, strengthen investor confidence, and attract large players due to greater flexibility and high trading volumes,» said Noelle Acheson, former head of analytics at Genesis.

It is noted that such a development in the cryptocurrency market could become a catalyst for further strengthening the position of bitcoin as a leading financial asset.