Posted on 11/25/2024 1:02:17 PM PST by zeestephen
In January, spot bitcoin ETFs began trading, which opened the door to more mainstream investors...Last week, options on those spot crypto products finally started to go live on the Nasdaq and NYSE, and CBOE Global Markets is set to list its first cash-settled bitcoin ETF options Dec 2
(Excerpt) Read more at cnbc.com ...
"BlackRock's bitcoin trust IBIT holds $48.4 billion..."
"Options on IBIT had a blockbuster debut, with 353,716 contracts traded on its first day..."
BTC is taking a breather while ETH plays catch-up
When the CME started, Bitcoin took a pretty decent dive. As someone who has held this stuff since 2013…I hate the options market.
Funnier “money” than he current funny “money”.
I made good gains from Nvidia. That’s as close as I’m getting to bitcoin.
So the banksters and the Wall Street gangsters have figured out a way to tap into another revenue stream, ‘eh? Now they are manganously offering to be the middleman and fleece the public for their cut.
Brilliant.
Great insight, Vermont.
I completely missed that connection.
Today, Bitcoin is trading at $92,500.
Down 7.5% since it touched $100K last week.
Bitcoin owners are option hedging against a sell off.
As soon as options are introduced, the big players start to hedge out volatility (or so they think.)
Honestly, I think right now we are just seeing the “bandwagon” emptying a little.
It could be disheartening to some of the “new” folks. It’s just another Tuesday for those of us who have been around this track a few times.
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