#市场围绕90K
Today's BTC price reaches a new high, approaching the $95,000 mark
Today (November 21), the price of BTC has hit a new high, getting closer to $95,000, which is exciting for investors. MicroStrategy, a company that has been in the spotlight in the cryptocurrency world, has once again made a big purchase of BTC. Its market capitalization has also surpassed $100 billion for the first time today. It seems that BTC is really on its way to new heights.
Speaking of which, this rise in BTC's price is closely related to ETF options. Just a few days ago, BlackRock's iShares Bitcoin Trust (IBIT) ETF options officially launched on NASDAQ, marking a significant milestone for the Bitcoin market. As soon as these options launched, they attracted nearly $2 billion in notional exposure, which is quite impressive.
Some people might not understand the difference between an ETF and ETF options. Simply put, an ETF is like a basket of assets that you can buy and sell at any time, which is very convenient. On the other hand, ETF options give you the right to buy or sell an ETF at a certain price, but it’s not mandatory; you can choose to exercise this right or not. This way, you can control a larger amount of ETF with less money, and there's a leverage effect that can be used to hedge risks or speculate.
Now let's talk about an indicator that suggests BTC is about to surge — the Puell Multiple. Analysis from CryptoQuant indicates that once this indicator breaks its 365-day moving average, the price of BTC will soar. You see, in March 2019 and January 2020, when this indicator broke, the price of BTC rose by 83% and 113%, respectively.
Also, MicroStrategy is truly impressive. It announced yesterday that it would increase the scale of its convertible preferred note purchase plan by nearly 50%, reaching $2.6 billion. Previously, it had already purchased around 51,780 BTC, with a total value of approximately $4.6 billion. Now, the value of the BTC it holds has exceeded $31 billion. Today, its market capitalization has surpassed $100 billion, with an increase of over 650% this year, and its trading volume is astonishing, exceeding SPY and TSLA, making it the stock with the highest trading volume.
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