BAKKT TRADES 18 BTC IN FIRST 7 HOURS AS BITCOIN PRICE FALLS BELOW $10K
The cryptocurrency world held its breath in anticipation.The long-awaited launch of Bakkt, the Intercontinental Exchange (ICE)'s physically-settled Bitcoin futures platform, finally arrived.The digital asset community envisioned Bakkt as a potential catalyst for a new surge in Bitcoin's price, hoping it would usher in institutional investment and broader adoption.However, the initial response was, to put it mildly, underwhelming.In its first seven hours of operation, Bakkt recorded a trading volume of just 18 Bitcoin. Bakkt Trades 18 BTC in First 7 Hours as Bitcoin Price Falls Below $10KSource: CointelegraphPublished on Bakkt Trades 18 BTC in First 7 Hours as BitcoinTo add insult to injury, instead of propelling Bitcoin to new heights, the price actually dipped below the psychologically significant $10,000 mark.This unexpected turn of events left many wondering: what went wrong? The first trade was executed at just past 8 pm ET for $10,115. We re live! The first Bakkt Bitcoin Futures trade was executed at 8:02pm ET at a price of $10,115 Bakkt (@Bakkt) Septem. Bakkt has been onboarding clients for months while stocking up its bitcoin warehouse custody storage so a spike in BTC prices was not expected.Was the hype overblown? Bitcoin trades at $102,825.64, down 2.28% in the past 24 hours. After peaking at $105,915, it dipped briefly to $100,500. This drop triggered $308 million in long position liquidations. Despite the volatility, Bitcoin s market cap remains at $2.04 trillion. Daily volume stands at $59.96 billion. The circulating supply is steady at 19.87And what does this mean for the future of Bitcoin futures and institutional involvement in the crypto market?This article delves into the details of Bakkt's launch, analyzes the trading volume, explores the factors contributing to the Bitcoin price drop, and examines the implications for the cryptocurrency landscape.
The Bakkt Launch: A Disappointing Start
After months of anticipation and regulatory hurdles, Bakkt finally went live on September 22nd. In the first hour, the platform only had 5 contracts and after about 10 hours, this number increased by 23, to 28 contracts. After 7 hours, trades went up to a total of 18 BTC but instead of Bakkt to act as a Bitcoin price catalyst as expected, prices have dropped down below the $10,000 mark.The platform promised physically-settled Bitcoin futures contracts, a significant difference from cash-settled futures offered by competitors like the Chicago Mercantile Exchange (CME). 18 Bitcoin em volume negociado desde o lan amento dos futuros de Bitcoin na plataforma Bakkt da Intercontinental Exchange na noite do domingo, 22 de setembro. Bakkt negocia 18 BTC nas primeiras 7 horas enquanto o pre o do Bitcoin cai abaixo de US$ 10.000Physically-settled futures mean that at the expiration of the contract, the holder receives actual Bitcoin, rather than the cash equivalent of its value. 18 Bitcoin (BTC) in volume has been traded since the launch of Bitcoin futures on the Intercontinental Exchange (ICE) s Bakkt platform yesterday, Sept. 22. The much-anticipated contracts the first of their kind to be physically settled in Bitcoin went live at 8 PM EST on Sept. 22 ( UTC Sept. 23).This was seen as a crucial step in attracting institutional investors who prefer holding the underlying asset.
The first trade on Bakkt was executed shortly after the platform opened at 8:02 PM ET, at a price of $10,115.However, the initial trading volume remained sluggish. Bakkt Trades 18 BTC in First 7 Hours as Bitcoin Price Falls Below $10K Septem Crypto News Cointelegraph.com News 18 Bitcoin in volume has been traded since the launch of Bitcoin futures on the Intercontinental Exchange s Bakkt plIn the first hour, only 5 contracts were traded.After approximately 10 hours, this number increased slightly to 28 contracts. Skip to main content Bitcoin Insider. MenuAfter seven hours of trading, the total volume reached a mere 18 Bitcoin.
This low volume was a stark contrast to the high expectations surrounding the launch. 18 Bitcoin in volume has been traded since the launch of Bitcoin futures on the Intercontinental Exchange (ICE) s Bakkt platform yesterday, Sept. 22.Many industry experts had predicted a significant influx of institutional money into the Bitcoin market through Bakkt.The lack of immediate enthusiasm raised concerns about the platform's appeal and its potential impact on Bitcoin's price.
Bitcoin Price Decline: Coincidence or Causation?
Adding to the disappointment, Bitcoin's price experienced a notable decline around the time of Bakkt's launch.The price, which had been hovering around $10,000, dipped below this key level.While correlation doesn't equal causation, the timing of the price drop alongside the underwhelming Bakkt launch led many to speculate about a possible connection.
Several factors might have contributed to the price decline:
- Profit-Taking: Some investors may have decided to take profits after the recent Bitcoin rally, regardless of the Bakkt launch.
- Market Sentiment: The overall market sentiment towards Bitcoin and cryptocurrencies can fluctuate independently of specific events like the Bakkt launch.
- Bakkt's Perceived Failure: The low trading volume on Bakkt may have created a negative perception in the market, leading some traders to sell off their Bitcoin holdings.
- External Factors: Broader economic news or regulatory developments could have also influenced Bitcoin's price.
Regardless of the exact cause, the combination of the underwhelming Bakkt launch and the Bitcoin price decline created a sense of unease in the cryptocurrency market.
Analyzing the Low Trading Volume
Several reasons have been proposed to explain Bakkt's lower-than-expected trading volume:
Institutional Adoption Takes Time
One of the most common explanations is that institutional investors require time to familiarize themselves with new platforms and products. The price of Bitcoin (BTC) is $93,825.31 today as of, EDT, with a 24-hour trading volume of $9.55B.Integrating Bakkt into their trading strategies and risk management frameworks is a complex process that cannot be rushed. Se han negociado 18 Bitcoins (BTC) en volumen desde el lanzamiento de los futuros de Bitcoin en la plataforma Bakkt en el Intercontinental Exchange (ICE) ayer, 22 de septiembre. Bakkt comercia 18 BTC en las primeras 7 horas, a la vez que el precio de Bitcoin cae por debajo de los USD 10KMoreover, institutions often require internal approvals and due diligence before allocating capital to new asset classes.
It's important to remember that Bakkt is designed for institutional investors, not retail traders.These investors typically operate on a longer time horizon and are less prone to knee-jerk reactions than retail traders. Bakkt Trades 18 BTC in First 7 Hours as Bitcoin Price Falls Below $10K By evilchild In Crypto Report Posted Septem 0 Comment(s) This post was originally published on this siteTherefore, it was perhaps unrealistic to expect a massive influx of capital on the first day of trading.
Price Discovery and Liquidity Concerns
Another possible reason for the low volume is the lack of price discovery and liquidity on the platform. Bakkt Trades 18 BTC in First 7 Hours as Bitcoin Price Falls Below $10KAs a new exchange, Bakkt needs time to establish a robust order book and attract a critical mass of traders.Without sufficient liquidity, institutional investors may be hesitant to participate, as they may be concerned about their ability to buy and sell large positions without significantly impacting the price.
Limited Awareness and Accessibility
While Bakkt has received significant media attention within the cryptocurrency community, it may not be widely known among traditional institutional investors.Furthermore, accessing the Bakkt platform may require specific licenses, regulatory approvals, and technical infrastructure, which can create barriers to entry for some institutions.
The Nature of Physically-Settled Futures
The fact that Bakkt offers physically-settled Bitcoin futures, while seemingly a positive feature, may also have contributed to the lower volume. p Intercontinental Exchange s Bakkt platform, now live, has seen 18 Bitcoin in trading volume since its launch under /p Bakkt Trades 18 BTC in First 7 Hours as Bitcoin Price FallsSome institutions might prefer cash-settled futures due to their simplicity and ease of integration with existing trading systems.Physically-settled futures require the handling of actual Bitcoin, which can raise concerns about custody, security, and regulatory compliance.
Long-Term Implications for Bitcoin Futures
Despite the disappointing start, it's crucial to avoid drawing premature conclusions about Bakkt's long-term prospects and the future of Bitcoin futures in general. 18 Bitcoin (BTC) in volume has been traded since the launch of Bitcoin futures on the Intercontinental Exchange (ICE) s Bakkt platform yesterday, Sept. 22.Several factors suggest that Bakkt could still play a significant role in the development of the cryptocurrency market.
Building Institutional Trust
Bakkt is backed by the Intercontinental Exchange (ICE), a reputable and well-established exchange operator. Bakkt Trades 18 BTC in First 7 Hours as Bitcoin Price Falls Below $10K Submitted Septem at PM Email This BlogThis!This provides a level of trust and legitimacy that may be lacking in other cryptocurrency platforms. The Real Housewives of Atlanta The Bachelor Sister Wives 90 Day Fiance Wife Swap The Amazing Race Australia Married at First Sight The Real Housewives of Dallas My 600-lb Life Last Week Tonight with John OliverICE's involvement can help to attract institutional investors who are wary of the perceived risks associated with the crypto market.
Regulatory Compliance
Bakkt is committed to regulatory compliance and has worked closely with regulators to ensure that its platform meets all necessary requirements.This regulatory oversight can provide comfort to institutional investors and encourage them to participate in the Bitcoin futures market.
Physically-Settled Bitcoin: A Key Differentiator
The physical settlement feature of Bakkt's futures contracts remains a key differentiator.As institutional interest in Bitcoin grows, the demand for physically-settled futures is likely to increase. The long-awaited launch of Bakkt s physically-settled Bitcoin futures is finally here and has started already. However, it would seem that things aren t going as smoothly as most bulls expected asThese contracts offer a direct exposure to Bitcoin without the complexities and risks associated with holding the digital asset directly.
Future Growth Potential
Bakkt's initial trading volume should be seen as a starting point, not a final verdict. 18 Bitcoin in volume has been traded since the launch of Bitcoin futures on the Intercontinental Exchange s Bakkt platform late yesterday, Sept. 22 Bitcoin (BTCThe platform has the potential to grow significantly over time as it attracts more users, increases liquidity, and expands its product offerings. Bakkt Trades 18 BTC in First 7 Hours as Bitcoin Price Falls Below $10K cointelegraph.com, UTC 18 Bitcoin (BTC) in volume has been traded since the launch of Bitcoin futures on the Intercontinental Exchange (ICE) s Bakkt platform yesterday, Sept. 22.Other players in the market like CME and Deribit have been around for years, and boast impressive open interest and daily volume.
Bakkt's Evolution: Beyond Initial Trading Volume
It's important to understand that Bakkt's success shouldn't be solely judged on its initial trading volume.The platform is designed to evolve and offer a range of services that can benefit the cryptocurrency ecosystem.
Custody Solutions
Bakkt offers secure custody solutions for Bitcoin, which can be appealing to institutional investors who are concerned about the security of their digital assets. The long awaited Bakkt bitcoin futures is live. 18 BTC has already been entered into monthly contracts. First trade executed at 8 pm ET.These custody solutions can also facilitate the development of other Bitcoin-based financial products.
Price Discovery and Market Transparency
As Bakkt gains traction, it can contribute to price discovery and market transparency in the Bitcoin market. 18 Bitcoin in volume has been traded since the launch of Bitcoin futures on the Intercontinental Exchange s Bakkt platform late yesterday, Sept. 22 Please note, this is a STATIC archive of website cointelegraph.com from, cach3.com does not collect or store any user information, there is no phishing involved.The platform's futures contracts can provide valuable information about the future price of Bitcoin and help to reduce market volatility.
New Product Development
Bakkt has the potential to develop new and innovative Bitcoin-based financial products, such as options, ETFs, and other derivatives. ️ 5 COINS to $5 MILLION REPLAY: officially launches their much anticipated Bitcoin Futures contracts - the first of tThese products can attract a wider range of investors and further integrate Bitcoin into the traditional financial system.
What Does This Mean for the Future of Bitcoin?
The initial reaction to Bakkt's launch highlights the complexities and uncertainties surrounding the adoption of Bitcoin by institutional investors.While the low trading volume was disappointing, it doesn't necessarily signal a fundamental problem with Bitcoin or the concept of Bitcoin futures.
The cryptocurrency market is still relatively young and volatile, and it's unrealistic to expect overnight success.Building institutional trust, establishing regulatory clarity, and developing robust market infrastructure all take time. Bitcoin (USD) Monatliche Futures-Kontrakte auf Bakkt. Quelle: ICE. Laut den aktuellsten Daten wurden 18 BTC gehandelt. Der dabei zuletzt erfasste Handelskurs lag bei 10.042,50/BTC. Viele Leute aus der Kryptobranche haben das geringen Volumen kommentiert.Bakkt's launch should be viewed as a small step in a long journey, not a definitive indicator of success or failure.
Potential Catalysts for Growth
Several factors could contribute to the future growth of Bitcoin and the adoption of Bitcoin futures:
- Increased Institutional Adoption: As more institutional investors become comfortable with Bitcoin and the cryptocurrency market, demand for Bitcoin futures is likely to increase.
- Regulatory Clarity: Clear and consistent regulations can help to reduce uncertainty and attract institutional investors.
- Technological Advancements: Improvements in blockchain technology and security can further enhance the appeal of Bitcoin.
- Mainstream Adoption: As Bitcoin becomes more widely accepted by merchants and consumers, its value and utility are likely to increase.
Actionable Advice for Investors and Traders
The Bakkt launch and subsequent price action offer several lessons for investors and traders:
- Manage Expectations: Avoid getting caught up in hype and unrealistic expectations.The cryptocurrency market is highly volatile and unpredictable.
- Do Your Research: Before investing in Bitcoin or any other cryptocurrency, conduct thorough research and understand the risks involved.
- Diversify Your Portfolio: Don't put all your eggs in one basket. 백트 비트코인 선물거래소가 개장된 첫날인 22일, 비트코인(btc) 거래량은 단 18개에 그쳤다. 그간 많은 기대를 받아왔던 실물결제 BTC 선물계약에 대한 거래가 미국 동부시간 기준으로 22일 오후 8시(GMT 기준 23일 자정)부터 개시되었다.Diversify your investments to reduce risk.
- Stay Informed: Keep up-to-date with the latest news and developments in the cryptocurrency market.
- Be Patient: Investing in cryptocurrencies is a long-term game. The initial response to the long-awaited Bakkt Bitcoin (BTC) futures contracts has been positive. The asset itself, however, has not reacted and has dropped back below $10,000 price mark again this morning.Don't expect to get rich overnight.
Frequently Asked Questions About Bakkt and Bitcoin Futures
What is Bakkt?
Bakkt is a digital asset platform and custodian that offers physically-settled Bitcoin futures contracts.It is owned by the Intercontinental Exchange (ICE), the operator of the New York Stock Exchange (NYSE).
What are physically-settled Bitcoin futures?
Physically-settled Bitcoin futures are contracts that require the delivery of actual Bitcoin upon expiration.This is different from cash-settled futures, which only require the payment of the cash equivalent of Bitcoin's value.
Why is physically-settled Bitcoin important?
Physically-settled Bitcoin futures can attract institutional investors who prefer holding the underlying asset.They also contribute to price discovery and market transparency.
What are the risks of trading Bitcoin futures?
Trading Bitcoin futures involves significant risks, including price volatility, leverage, and regulatory uncertainty.It's important to understand these risks before trading.
How can I trade Bitcoin futures on Bakkt?
Trading Bitcoin futures on Bakkt typically requires an account with a regulated broker or exchange that offers access to the platform.You may also need to meet certain eligibility requirements.
Conclusion: A Marathon, Not a Sprint
The initial performance of Bakkt, with just 18 BTC traded in its first seven hours and Bitcoin's price dipping below $10,000, was undoubtedly a setback for those who envisioned an immediate and dramatic impact on the cryptocurrency market.However, it's crucial to remember that the adoption of Bitcoin and the development of the institutional market for cryptocurrencies are long-term processes. Bakkt's significance lies in its potential to build trust, improve market transparency, and offer innovative products that can attract institutional investors.The underwhelming launch serves as a reminder to manage expectations, conduct thorough research, and adopt a patient approach to investing in the cryptocurrency space.Whether Bakkt will ultimately succeed in its mission remains to be seen, but its commitment to regulatory compliance and its offering of physically-settled Bitcoin futures position it as a potentially important player in the evolving world of digital assets.The key takeaway is that the future of Bitcoin, and its integration into the traditional financial system, is a marathon, not a sprint.We need to see how it plays out in the long term.Stay informed, manage risk, and remember that the cryptocurrency market is constantly evolving.
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