Fresh all-time high for Bitcoin after massive opening day for BTC options

BITCOIN is trading at $93,500 this morning, following yesterday's milestone when it thundered its way to an all-time high of $94,040.

The rally has also buoyed altcoins like Dogecoin and Cardano, which continue to post gains, while Ethereum and Solana have slowed their upward momentum.

The spotlight, however, is on the debut of Bitcoin options tied to the record-setting ETF. The first trading day saw a staggering $1.9 billion in activity across 354,000 contracts, an unprecedented figure that ETF analysts at Bloomberg have called "unheard of for day one".

This surge underscores a wave of institutional and retail interest in cryptocurrency derivatives markets.

Investor sentiment, as measured by the Fear and Greed Index, remains firmly in Extreme Greed territory, reflecting strong market optimism. The question now is whether this momentum can fuel the next leg up or if a consolidation phase is on the horizon.

All eyes will be on trading volumes and broader market cues as the rally matures.

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In the Markets

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Total crypto market cap

$3.09 trillion (+0.05%)

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What Bitcoin did yesterday

Daily high $91,151 |  Daily low $94,040

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Bitcoin market capitalisation

$1.84 trillion (58.8% of market)

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Bitcoin 24-hour trading volume

$74.8 billion (+1.52%)

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SP500

+0.4

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Fear and Greed Index

Extreme Greed

‍Source: Coinmarketcap

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

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Bitcoin Relative Strength Index (RSI)

54

Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.

Post Script…

Cautionary Notes

It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

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