• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: KyberSwap Hacker Demands Full Control, Sets December 10th Deadline
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: KyberSwap Hacker Demands Full Control, Sets December 10th Deadline
bakkt bitcoin futures new record

Bakkt Bitcoin Futures Record: 2728 Contracts Traded Amid BTC Crash

Christine Vasileva by Christine Vasileva
4 years ago
in Bitcoin Businesses, Bitcoin, News, News teaser
0

The Bakkt Bitcoin (BTC) futures set a daily trading record, just as the leading coin crashed from $8,000 to under $7,000 within a 24-hour period.


Bakkt Activity Shot Up on Day of Rapid Losses for BTC

Activity shot up on the Bakkt exchange, from the usual daily interest above 1,400 traded contracts. Open interest exceeded the equivalent of $1.75 million.

Daily summary of Friday's Bakkt Bitcoin Monthly Futures:

? Traded contracts: 2728 ($20.30 million, +66%) (New ATH ?)
? All time high: 2728 (11/22/2019)
? Open interest: $1.75 million (+29%)

Follow @BakktBot for updates – Sats welcome @ https://t.co/TF6sNUwWpO pic.twitter.com/rCDmyG0A78

— Bakkt Volume Bot (@BakktBot) November 23, 2019

Bakkt has been off to a slow start, but two months since the launch of the futures, the exchange has proven to be a tool to offset Bitcoin price fluctuations. So far, Bakkt activity has risen during more volatile and dramatic days for BTC, and there is a clear growing trend.

The exchange is also prepared to continue smashing its records, as more traders come on board. The trajectory of Bakkt resembles that of the adoption of CME futures, which grew their volumes steadily over the past two years.

The monthly Bitcoin futures contracts on Bakkt also became liquid enough and will be used as the pricing basis for a new cash-settled futures market on ICE Singapore. The new product was announced on Friday and expects a launch on December 9. However, there were skeptics that saw the ICE backtrack on BTC adoption by offering cash-settled futures.

Yeah, great job @bakkt for the ol bate and switch! See paper $btc futures cash settled is coming soon! Hope you guys burn in hell for all the immoral shenanigans you guys are trying to pull off! Hopefully the WORLD gets with it and makes #btc the 1 world currency #cryptocurrency

— Kreg Everett Fisher (@KregEverett) November 22, 2019

The heightened Bakkt futures activity happened on a day when the Bitcoin market sentiment fell rapidly to “extreme fear”. However, the slide did not look like a capitulation from futures traders.

BTC trading volumes shot up in a bull-and-bear fight, in which prices shot up from below $7,000 to above $7,300 within hours. On Saturday, volumes remained unusually high for a weekend, at above $33 billion in 24 hours.

The latest sell-off also boosted dollar volumes, while Tether (USDT) trading fell to 73%. The share of USD pairs is once again above 10%. The spot market for BTC sets the price through a multitude of new exchanges, with no one market capable of swaying the price.

In the coming months, Bakkt has to prove its value as a tool in a bearish market. Since the launch, the Bitcoin market went through growing volatility, and futures became a tool to offset days of wild price swings. However, the launch of the Bakkt futures market did not tame BTC’s price. Inversely, since September 23, the volatility index increased, to a current level of about 4%.

What do you think about Bakkt Bitcoin futures activity? Share your thoughts in the comments below!


Images via Shutterstock, Twitter: @BakktBot, @KregEverett

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Christine Vasileva

Christine Vasileva

Christine Vasileva is a financial news and business writer, tracking the latest developments in fintech and the effect of blockchain and crypto-assets on global business and finance.

Related Posts

Hashdex spot Bitcoin ETF

Hashdex Submits Revised Bitcoin Spot ETF Filing To The SEC, Here’s What Changed

9 hours ago
XRP

Can XRP Price Reach $50? Crypto Analyst Predicts Massive Move

16 hours ago
Ukraine

Corruption In Ukraine: Crypto Worth $1.5 Million Confiscated From Former Gov’t Official

18 hours ago
Cardano founder Small

Cardano Founder Drops Hard Truths: ‘Bitcoin Was Heavily Centralized At The Start’

1 day ago
Bitcoin price Small

3 Reasons Why Bitcoin Price Is Trading Above $38,500

2 days ago
Circle

Circle Defies Allegations: No Illicit Financing Links And Justin Sun Ties

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • Wish You’d Invested in BTC and ETH Sooner? Experts Say...

    13 hours ago
  • Market Rallies Post-Holiday. Fake-Out or Are Bulls Back in...

    15 hours ago
  • The Best Altcoins to Invest in? Cardano, Polygon, and...

    1 day ago
  • Top 3 Affordable Cryptos Worth Buying Next Week

    2 days ago
  • 3 High Growth Cryptos To Buy Now

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.