Bitcoin ETF options go live in busy trading. Most bets are on gains

Published On Nov 19, 2024, 4:26 PM

Bitcoin ETF options have launched, with significant interest from investors as they anticipate further price gains. The iShares Bitcoin Trust (IBIT) has seen around 100,000 options traded on its first day, with a strong preference for call options which suggests that traders expect the price of Bitcoin to continue rising. The ETF trades at approximately $53, with Bitcoin itself reaching about $92,800. The success of this ETF might indicate a bullish sentiment around Bitcoin's value in the near term.

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IBITView IBIT chart on TradingView

Positive

With the launch of options trading for the iShares Bitcoin Trust and the strong call volumes, investor sentiment appears overwhelmingly bullish. Traders are optimistic about Bitcoin's price movement, forecasting continued gains. Given that Bitcoin has already climbed significantly from its lows this past November, further upside potential seems likely, especially as more institutional interest in cryptocurrency grows through accessible products like ETFs.

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