- Bitcoin received a momentum boost following a crucial CFTC decision.
- The CFTC has approved spot Bitcoin ETF Options.
- Analysts expect the recent approval to boost Bitcoin’s price above $100,000 soon.
Bitcoin is surging after the CFTC approved spot Bitcoin ETF options. This decision marks a significant step for the cryptocurrency market. Now, the Office of the Comptroller of the Currency (OCC) must give final approval for trading to begin.
Many analysts anticipate that spot Bitcoin ETF options will launch by early 2025, given the time required for the OCC to issue its approval. The CFTC’s decision and the expected support from the OCC demonstrate the growing regulatory acceptance of cryptocurrency investments.
Recall that the U.S. Securities and Exchange Commission approved spot Bitcoin ETFs earlier this year, which led to an influx of institutional investors and significant capital inflow. Bitcoin’s price surged after the spot ETF approval, reaching a new all-time high. Most crypto analysts believe a confirmed spot Bitcoin ETF Options approval could have a similar effect on the flagship cryptocurrency. With BTC trading above $91,000, many expect this new product to push the price above $100,000.
Read also : Bitcoin ETF Options to Drive Growth in Crypto Derivatives
It is crucial to note that the expected launch of spot Bitcoin ETF options could coincide with other positive developments in the crypto market. Analysts anticipate that the incoming Trump administration will introduce significant changes to crypto regulations, including a potential resignation of SEC Chair Gary Gensler.
Bitcoin traded for $91,428 at the time of writing after reaching a $93,483 all-time high a few days ago. Users believe it is a matter of time before the flagship crypto climbs above the $100,000 milestone, opening the way for higher price levels.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
