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.

 

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