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Bakkt’s volume surges to an all-time high as bitcoin breaks below a key support level

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

Bakkt saw a trading volume of worth $15.5 million as 1,756 Bitcoin Futures contracts were traded on the platform today. This was an all-time high record for the bitcoin futures platform. However, the price of bitcoin lost nearly 5% of its value on Friday as it broke below the key support of $9,000.

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.

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.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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