Bitcoin Futures trading platform Bakkt hit a new all-time high today as 1,756 Bitcoin Futures contracts were traded on the platform. The Intercontinental backed futures exchange had a very slow start, but from the last few weeks, the numbers have gone significantly up.
Daily summary of Friday's Bakkt Bitcoin Monthly Futures:
📈 Traded contracts: 1741 ($15,486,195) (New ATH 🚀)
📅 Day before: 834 (+109%)
🚀 All time high: 1741 (11/8/2019)
— Bakkt Volume Bot (@BakktBot) November 9, 2019
Bitcoin drops below the key support of $9,000
On Friday, the leading cryptocurrency lost nearly 5% of its value as the price dropped below $9,000 mark after two weeks. The price is expected to slide down further as it broke below the key support level of $9,000. At the time of writing bitcoin is changing hands at just above $8,800.
The well-known gold advocate and bitcoin cynic Peter Schiff tweeted that bitcoin pump is finally over, and the crypto community should be ready for the dump.
Bakkt picks up pace after a slow start.
The Intercontinental exchange subsidiary Bakkt was launched on 24th September. The trading volume for the first few weeks was not as much as it was expected to be. But since then, the volume has been rising at a steady rate. On 26th October, Bakkt registered a 257% volume increase in 24 hours as the price of bitcoin rallied more than $2,000.
Bakkt is also all set to launch the first regulated bitcoin options contract on 9th December.