Bitcoin Hits New ATH After IBIT ETF Options Debut — Is $100K in Sight?

• BlackRock's options Bitcoin ETF saw nearly $2 billion in exposure on its first day of trading.
• 81.6% of trades were calls, indicating strong bullish sentiment.
• Bitcoin reached a new all-time high of $94,834, driven by market enthusiasm.

Blackrock’s options Bitcoin ETF saw record-breaking numbers on its first day. On November 19th — iShares Bitcoin Trust ETF (IBIT) saw nearly $2 billion in total exposure in less than a day. 

This number seems overwhelmingly positive, leading investors to believe that the new Options Bitcoin ETF could help propel the BTC price to close to the $100,000 milestone. Following the debut — Bitcoin's market activity surged, with increased trading volume and heightened market enthusiasm.

A report from Bloomberg Intelligence reveals that the vast majority of investors betting on IBIT options are bullish about the future of $BTC. The data reveals that over 81.6% of trades in the ETF were calls — meaning investors are hopeful that Bitcoin will go up. 

Senior Analyst at Bloomberg, Eric Balchunas, went on Twitter to shed light on how impressive the IBIT options performance was on day one. Balchunas spoke about how the market has never seen a near $2 billion in exposure from an ETF on its first day. Drawing a comparison, the first Bitcoin ETF offering saw only $363 million.

Bitcoin Reaches New All-time High

This market optimism was also reflected in the precise value of Bitcoin. Over the past 24 hours — BTC went up by 3.4% reaching its highest price ever recorded. 

During its peak, the currency registered the value of $94,834 — only half a step away from the $95,000 zone. Currently, the asset trades at $94,179, refusing to go down below its new-found zone of $94,000.

Its market capitalization is now at $1.86T, following a 10% daily trading volume increase with $78 billion traded in the blockchain. 

Bitcoin’s recent performance puts it in second place as the best-performing top-10 asset of the day, only behind Cardano. With these developments, Bitcoin enthusiasts are eagerly watching to see if BTC will soon break past the $100,000 milestone.