Today Marks the Launch of Bitcoin ETF Options: Could This Herald a Surge in BTC Value to $200K?

The trading of the Bitcoin Options ETF is poised to kick off today, fuelling positive vibes across the cryptocurrency market. The market’s mood has been uplifted by the anticipation of this event, and there are whispers of a Bitcoin surge reaching $200K shortly. Furthermore, the rebound in activity surrounding the US Spot Bitcoin ETF, which reported a notably strong start this week, suggests an increasing interest from institutional players in the realm of digital assets.

Launch of Bitcoin Options ETF Today

According to a Bloomberg report, Nasdaq Inc. is set to initiate options trading on BlackRock Inc’s Bitcoin ETF today. Approval of the Bitcoin Options ETF would grant traders the ability to utilize derivatives to speculate on the future of Bitcoin, the leading cryptocurrency by market valuation.

The fervor within the crypto community has been stoked by recent milestones in the US Spot Bitcoin ETF’s journey, including a substantial inflow of $254.8 million on November 18, as reported by Farside Investors, highlighting renewed investor interest after a brief period of outflows last week.

Furthermore, during a recent segment on Bloomberg’s ETF IQ, Alison Hennessy, head of Nasdaq ETP Listings, mentioned that the exchange anticipated starting options ETP trading as early as “tomorrow”. Another spokesperson for Nasdaq also confirmed today’s launch. Significantly, this development comes on the heels of a nod of approval from the US Commodity and Futures Trading Commission (CFTC) for the BTC Options ETF, igniting conversations within the market.

Amid these developments, Bitcoin has seen a robust rally over recent days, marking a new all-time high and spurred by Donald Trump’s election victory. The market’s optimism is rooted in expectations of more explicit regulatory frameworks for digital assets and potential pro-crypto policies in the US following the Republican win. Many investors believe this bullish trend will persist in the near future.

Is a $200K Bitcoin on the Horizon?

Trading just shy of making headlines at $91,800 today, Bitcoin’s 24-hour trade volume has leaped by 52%, hitting $73.59 billion. The formidable cryptocurrency posted a 24-hour peak of $92,596 and reported a 34% uptick on a monthly basis. During this writing, Bitcoin Futures Open Interest also climbed by over 1.5%, a firm indicator of market confidence in the crypto.

The buzz surrounding the upcoming launch of a Bitcoin Options ETF in the US has added to the optimistic market atmosphere. BCA Research has ventured to forecast that Bitcoin’s price might ascend to a whopping $200K as it approaches the significant $100K level.

Crypto market authority Ali Martinez has echoed a bullish outlook for Bitcoin. An X post by Martinez spotlights historical trends in Bitcoin, suggesting that following past patterns, Bitcoin could be en route to breaking the $150K mark.

In corroboration, Crypto Rover shared a chart hinting at Bitcoin’s potential rise above $200K. Furthermore, Tom Lee, Head of Research at Fundstrat, has put forth predictions of the cryptocurrency’s continued rally, adding more excitement to the already bullish market sentiment.

Meanwhile, Vetle Lunde, Head of Research at K33 Research, foresees a possible surge to $100,000. Highlighting the BlackRock Bitcoin ETF IBIT options debut as a decisive catalyst, Lunde points out a significant rise in open interest (OI) on the CME, suggesting a surge in market participation. The shift in CME trading toward long positions signals a bullish trend, and the basis is currently at 22%.

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Rupam Roy

Rupam is a detail-oriented research analyst and skilled journalist with three years in the finance sector. Working as a sub-editor at Coingape, Rupam delves into AI innovations, crypto market updates, and economic news, aiming to provide meaningful coverage to a broad audience.

Disclaimer: The presented content may include the author’s personal opinion and is subject to market condition. Do ensure to perform your research before engaging in cryptocurrency investments. Neither the author nor the publication assumes responsibility for any personal financial loss.