Bitcoin may be ready for another price surge as market interest in the U.S. increases

A Bloomberg report mentioned that Bitcoin could be on its path to another price surge and might hit a new all-time high. The report mentioned that the prediction comes from the growing developments related to cryptocurrency under the leadership of the pro-crypto incoming president, Donald Trump. 

The top cryptocurrency started Monday on a high note, with the day’s high hitting $92,596 and its lows being around $89,393. Bitcoin still dropped slightly today, by about 0.18%, reaching $91,799. Despite BTC being over $1,000 lower than its all-time high recorded last week, several key figures, including CryptoQuant’s CEO, believe the coin could cross above $100,000.

The founder and CEO of the on-chain market data analytics platform CryptoQuant, Ki Young Ju, projected that BTC could hit above $135,000 by 2025. Young Ju projected a top price of about $112,000 by the end of the year. The CryptoQuant CEO still warned that the projections did not cancel out the possibility of a correction. Young Ju also recently warned traders about the BTC/USDT pair being over-leveraged. 

VanEck’s Head of Digital Research, Matthew Sigel, made similar predictions, projecting that BTC could hit $180,000 by 2025. Talking to CNBC’s Squawk Box on November 14, Sigel said that the top crypto was in a ‘blue region’ without any technical resistance. The VanEck exec expected that BTC will hit several all-time highs over the next two quarters. 

Nasdaq plans to list Bitcoin spot ETF Options

Nasdaq is ready to go, said that $IBIT options will list “as soon as tmrw” – Alison Hennessy on ETF IQ just now 🔥

— Eric Balchunas (@EricBalchunas) November 18, 2024

Nasdaq plans to begin trading Bitcoin spot ETF Options on the iShares Bitcoin Trust on November 19. The OCC stated that the development indicated Nasdaq’s readiness to offer the Options on different Bitcoin ETFs. 

Notably, the confirmation comes after the U.S. SEC’s approval for Options trading for iBIT on September 20. The U.S. CFTC also issued a staff advisory on November 15, clearing Options for spot ETFs. The regulator mentioned that the approval applied to ETFs registered with the U.S. SEC. 

BTC spot ETF Options have been a long-awaited trading option for traders since the approval of multiple ETFs earlier this year. A Finance Yahoo report stated that Options could accommodate both retail and institutional investors. The report further highlighted retail investors’ interest in BTC. Finance Yahoo speculated that the interest could increase ETF Options activity compared to traditional equity Options. 

Theya Bitcoin’s head of growth, Joe Consorti, commented on the Options listing. Consorti explained that the listing would open the ‘floodgates of Bitcoin evolution in financial markets.’ He added that Options are the foundation of capital markets due to their liquidity provision. 

MicroStrategy buys $4.5 billion worth of BTC

🚨BREAKING🚨

MICROSTRATEGY JUST BOUGHT
51,780 BITCOIN FOR $4.6 BILLION
AT AVG PROCE $88,627.

BULLS ARE ACCUMULATING 🔥 pic.twitter.com/HJIDmunE5s

— Ash Crypto (@Ashcryptoreal) November 18, 2024

Another development is the recent massive purchase of BTC by Wall Street asset management company MicroStrategy. The firm sold its MSTR stocks to raise capital for the purchase. The purchase added 51,780 BTC worth about $4.5 billion at the current price of BTC. The firm’s holding of Bitcoin surged to about 331,200 BTC after the most recent purchase. 

MicroStrategy also plans to raise more funds to continue with its BTC purchases. The most immediate is a $1.75 billion funding from zero-interest convertible notes. The firm also plans to raise about $42 billion over the next three years, which it will channel into Bitcoin investment.

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