Bitcoin soared to a new all-time high price again on Wednesday, less than a day after it last set a new high watermark.
The asset jumped to $95,000 for the first time early Wednesday, with nearly $78 billion in Bitcoin changing hands over the last 24 hours, according to CoinGecko data.
The bullish price action follows after spot Bitcoin ETF options began trading in the U.S. for BlackRock’s iShares Bitcoin Trust (IBIT). The new derivatives contracts allow traders to bet on whether—and how quickly—shares of the fund will increase or decrease in price.
On Tuesday, the first day of trading on the Nasdaq, the new options contracts saw $1.9 billion in notional exposure traded on its first day.
It also follows several bullish catalysts for the asset this year, including a U.S. spot exchange-traded fund approval from the Securities and Exchange Commission and a Republican victory in the presidential election.
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Author: Stacy Elliott
