Bakkt Bitcoin Futures Set New Record as Bitcoin Surges 14%

NewsBTC reports, “On Wednesday, Bakkt’s Bitcoin futures (BTC) saw a massive volume boost as the cryptocurrency market tumbled by 10% within a few hours’ time. In fact, the upstart’s market saw 640 contracts traded, 653% the volume of the day prior and at least double of the previous traded contract all-time high.

“While it’s too soon to call Bakkt’s rising volume a bullish trend, the exchange set a new volume all-time high on Friday — in less than half the time it took to set the previous record.

“For those who have living under a rock, the bearish cryptocurrency trend reversed on Friday morning, with the cryptocurrency bottoming at $7,400 to surge to $7,700. Then, about an hour or two ago, BTC shot up by $800 in a ten-minute time frame, liquidating $150 million worth of short positions in the process. In the past 12 hours, Bitcoin is up 14%.”

Continue to read the full story at NewsBTC.

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