Bitcoin Futures Offered by Bakkt Sores New Highs Again
The Bitcoin futures that were offered by Bakkt, one of the crypto-focused subsidiaries of Intercontinental Exchange, has subsequently set a new record of 11,509 contracts on the 27th of July. At the same time, considering that each deal represents 1 BTC, taking the total contracts worth about $127 million changed hands during the day, according to the exchange.
The All-Time New Record
It is worth noting that the recent all-time high of 6,312 contracts eclipses the previous one, on the 19th of December 2019.
Bitcoin’s price has since recovered from its initial plunge, rising about 15 percent in 24 hours, according to CoinDesk’s Bitcoin Price Index. But on Wednesday, the bitcoin price recorded a daily flurry, breaking through the $10,500 barrier.
The Trade Volume Surge
BTC hit a new high of $10,000 on the 27th of July, a low of just $9,500 on the 30th of June. According to Bakkt, more than $120 million worth of shorts were liquidated on the stock exchange during yesterday’s rally.
As reported by U.S. Today, several analysts now expect Bitcoin to break the $10,000 mark in support before a convincing breakthrough is finally achieved. The Chicago exchange that dominates the regulated bitcoin futures market also posted a record of $1,000 per bitcoin in trading on the 27th of July.
Speaking of spot exchanges, Binance, for example, is still in the lead, with daily trading of more than $1.4 billion. Coinbase and Bitstamp were in second and third place, with $429 million and $316 million.
