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Bitcoin Price Surge Continues, Passes $900 to Approach 3-Year High
Bitcoin prices have shot past $900, the latest move in a week of dramatic market increases.
By Stan Higgins
Updated Sep 14, 2021, 1:58 p.m. Published Dec 23, 2016, 2:54 p.m.
Bitcoin prices have shot past $900, the latest move in a week of dramatic market increases.
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The digital currency’s price peaked at $911.99, according to data from the CoinDesk USD Bitcoin Price Index (BPI). Prices haven’t exceeded the $900 level since mid-January 2014, BPI data shows.
At press time, the price is hovering around an average of $902.92.
The development comes only two days after markets worldwide crossed the $800 mark, followed by additional action yesterday that saw the price exceed $870 before dipping.
The rapidly climbing price has sparked headlines across major news outlets, culminating a year of dramatic market movements that have followed events like the UK vote to exit the European Union and the election of Republican Donald Trump to the US presidency.
Image via Shutterstock
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When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
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- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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