Bitcoin futures go ballistic on Bakkt as Bitcoin races towards $8,800

  • Bitcoin futures on Bakkt get fresh breath following Bitcoin price correction above $8,700.
  • The futures race to an-all time high in 24-hours a day after recording an all-time low (25BTC).

Bakkt Bitcoin futures have in operation for almost three weeks now. However, their reception on the market was drab compared to the expectations in the crypto market. In fact, the poor performance after the launch was connected to the slump in Bitcoin price on September 24.

Intriguingly, the futures on the exchange are finally awakening after rising to a 24-hour high of about 221 BTC (all-time high). This was an impressive from the exchanges all-time low of 25 BTC on October 25 representing a whopping 790% increase in in a single day.

The ballistic rise is related to Bitcoin’s remarkable correction towards $9,000 from levels around $8,100. Bitcoin failed to break $8,800 hurdle and is now lethargic above $8,500. Bakkt seems to have broken the downtrend in Bitcoin futures but the big elephant in the room is whether it keep it up.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD gearing up for another attempt to crack $10,000 as active addresses keep growing

Bitcoin is holding surprisingly well after the flash crash on June 2. Bulls keep defending the daily 12-EMA while Bitcoin slowly climbs higher. BTC/USD is trading at $9,660 at the time of writing, looking at the $9,887 resistance level.

More Bitcoin News

XRP/USD clutches above $0.20, is holdling an effective XRP strategy?

Ripple is currently in consolidation above $0.20. Therefore, there is not much that can be said in regard to this week’s price performance, except for the move that tested $0.2150 on Monday.

More Ripple News

ETH/USD may return to $220.00 before another strong rally

Ethereum tested $247.93 during early Asian hours and retreated to $247.70 by the time of writing.  The second-largest digital asset has gained about 1% of its value since the start of the day and stayed unchanged since the beginning of the day.

More Ethereum News

IOTA upgrades Hornet node software

IOTA has announced a major upgrade to its Hornet node software, which is the first performance upgrade in IOTA 1.5. the first in a series of planned protocol upgrades.

More IOTA News


Bitcoin Weekly Forecast: BTC/USD needs to go down again before it goes up

After a head-spinning volatility at the beginning of the week, BTC/USD settled above $9,600 with minor gains on a week-on-week basis. A shall Doji candle on a weekly chart is an alarming signal that the bulls are exhausted by uncertainty and large price swings. 

Read the weekly forecast