Bakkt’s Bitcoin Futures Volume Explodes 260% to Trade $11M in 24 Hours

[Yaunfitda]

Bakkt’s Bitcoin Futures Volume Explodes 260% to Trade $11M in 24 Hours

According to data from Twitter-based monitoring resource Bakkt Volume Bot on Oct. 26, Bakkt traded 1,183 Bitcoin futures contracts, or 1,183 BTC ($11 million) on Friday.

Compared to just 331 contracts ($3.1 million) on Thursday, the increase in just 24 hours was 257%, dwarfing previous jumps, which themselves had resulted in all-time highs earlier in October.

https://cointelegraph.com/news/bakkts-bitcoin-futures-volume-explodes-260-to-trade-11m-in-24-hours

Do you guys think though that since Bakkt has been having an all time high volume tradings, will the positive sentiments will spill to the alt market right now? I mean alt market needs some catalyst, so I'm thinking that this whole Bakkt entering the picture could push the price further and possible that it can have domino effect in the alts?

What are your thoughts about my theory?

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[ecnalubma]

I’m very optimistic that BAKKT’s pump could possibly contribute to most awaited bullrun, the news are very timely that triggers positive sentiment among traders. If we can have a healthy market until the end of the year then its a good sign hoping it will pull the altcoin prices too.

[SamboNZ]

I hope Bakkt volume increases more it could entice more institutional investors or big companies to invest in bitcoin. $11m is very small because Bakkt is the only providing such product in the US right now.

[TGD]

I’m very optimistic that BAKKT’s pump could possibly contribute to most awaited bullrun, the news are very timely that triggers positive sentiment among traders. If we can have a healthy market until the end of the year then its a good sign hoping it will pull the altcoin prices too.

One thing is guarantee. Bitcoin price will pump until halving. Bakkt showing some really juicy volume compared to the volume in there opening. But sadly, Altcoin future is not guarantee with Bakkt volume improvement since Bakkt offering BTC contract and investors there can't used that BTC to buy altcoins. We need bitcoin ETF to be approved so that institutional investors can enter large amount of money and BTC that can be use to buy altcoins.

[bassbity]

I’m very optimistic that BAKKT’s pump could possibly contribute to most awaited bullrun, the news are very timely that triggers positive sentiment among traders. If we can have a healthy market until the end of the year then its a good sign hoping it will pull the altcoin prices too.

One thing is guarantee. Bitcoin price will pump until halving. Bakkt showing some really juicy volume compared to the volume in there opening. But sadly, Altcoin future is not guarantee with Bakkt volume improvement since Bakkt offering BTC contract and investors there can't used that BTC to buy altcoins. We need bitcoin ETF to be approved so that institutional investors can enter large amount of money and BTC that can be use to buy altcoins.

Maybe because Bakkt's volume has risen dramatically, making bitcoin prices stable, but is Bakkt much awaited by traders? I think we just need to wait for what will happen, every time there is any news, including Bakkt, it will not affect Altcoin, maybe this season is not the actual altcoin year.

[TGD]

I’m very optimistic that BAKKT’s pump could possibly contribute to most awaited bullrun, the news are very timely that triggers positive sentiment among traders. If we can have a healthy market until the end of the year then its a good sign hoping it will pull the altcoin prices too.

One thing is guarantee. Bitcoin price will pump until halving. Bakkt showing some really juicy volume compared to the volume in there opening. But sadly, Altcoin future is not guarantee with Bakkt volume improvement since Bakkt offering BTC contract and investors there can't used that BTC to buy altcoins. We need bitcoin ETF to be approved so that institutional investors can enter large amount of money and BTC that can be use to buy altcoins.

Maybe because Bakkt's volume has risen dramatically, making bitcoin prices stable, but is Bakkt much awaited by traders? I think we just need to wait for what will happen, every time there is any news, including Bakkt, it will not affect Altcoin, maybe this season is not the actual altcoin year.

Currently. Bakkt is the only gateway for institutional investor to invest in BTC via physical contract. So it's really a big deal on BTC only. Altcoin will gonna be pull down once BTC price will continue to rise.

[NathanJB]

Bakkt’s Bitcoin Futures Volume Explodes 260% to Trade $11M in 24 Hours

According to data from Twitter-based monitoring resource Bakkt Volume Bot on Oct. 26, Bakkt traded 1,183 Bitcoin futures contracts, or 1,183 BTC ($11 million) on Friday.

Compared to just 331 contracts ($3.1 million) on Thursday, the increase in just 24 hours was 257%, dwarfing previous jumps, which themselves had resulted in all-time highs earlier in October.

https://cointelegraph.com/news/bakkts-bitcoin-futures-volume-explodes-260-to-trade-11m-in-24-hours

Do you guys think though that since Bakkt has been having an all time high volume tradings, will the positive sentiments will spill to the alt market right now? I mean alt market needs some catalyst, so I'm thinking that this whole Bakkt entering the picture could push the price further and possible that it can have domino effect in the alts?

What are your thoughts about my theory?

Both ways are possible. It is possible that the altcoins will take the toll of a bullish Bitcoin. It is also possible that the altcoins will somehow gain the trust of investors as Bitcoin is gaining more of their trust as well. What is most likely to happen is that Bitcoin will continue dominating the market while reaching higher and higher price levels. And while this goes on, the altcoin market will be in red. But once the bullish rise of Bitcoin will stop and the correction will happen, the altcoins will do their own bullish growth.

[Pearls Before Swine]

Do you guys think though that since Bakkt has been having an all time high volume tradings, will the positive sentiments will spill to the alt market right now?

I think that's already happened.  Bitcoin jumped quite a bit, tho it dropped back down somewhat, and the altcoins I follow have all gone up and followed what bitcoin was doing.  That's about what I expected when btc started to move, but I'm sure not all altcoins have behaved that way.

And I bet you the Bakkt theory as to why the market boomed in the last couple of days is correct, and I've been saying as much since it happened.  Traders on Bakkt are probably betting that bitcoin's price is going to be higher whenever the options contracts expire, which drove up the price in anticipation.  I can't think of another reasonable explanation for what we saw, nor am I complaining about it.  I'll take gains any way I can get them.

[DaMut]

Bakkt Bitcoin futures exploded because of positive sentiment came from our recent news, we have gotten a lot of positive news from every side. Causing people to regain back their positive sentiment and pushing the price up. The price has not been consolidated yet that means we might see another action in the future either it is dump or pump, Bitcoin pump will become a catalyst for altcoin but it needs time to stabilize the price.

[TastyChillySauce00]

Bakkt’s Bitcoin Futures Volume Explodes 260% to Trade $11M in 24 Hours

According to data from Twitter-based monitoring resource Bakkt Volume Bot on Oct. 26, Bakkt traded 1,183 Bitcoin futures contracts, or 1,183 BTC ($11 million) on Friday.

Compared to just 331 contracts ($3.1 million) on Thursday, the increase in just 24 hours was 257%, dwarfing previous jumps, which themselves had resulted in all-time highs earlier in October.

https://cointelegraph.com/news/bakkts-bitcoin-futures-volume-explodes-260-to-trade-11m-in-24-hours

Do you guys think though that since Bakkt has been having an all time high volume tradings, will the positive sentiments will spill to the alt market right now? I mean alt market needs some catalyst, so I'm thinking that this whole Bakkt entering the picture could push the price further and possible that it can have domino effect in the alts?

What are your thoughts about my theory?

If we back to the BAKKT's mechanism and that must bring a lot of positive sentiments toward the crypto market. BAKKT has been exploding just in a short time and remembers the major countries like china is putting main consideration to take blockchain as its core to further development.
The blockchain industry is getting a very good sentiment and i thought if crypto as a system that is also using blockchain must follow that sentiment too.
BAKKT can push the price even further.

[gabbie2010]

Bakkt Bitcoin futures exploded because of positive sentiment came from our recent news, we have gotten a lot of positive news from every side. Causing people to regain back their positive sentiment and pushing the price up. The price has not been consolidated yet that means we might see another action in the future either it is dump or pump, Bitcoin pump will become a catalyst for altcoin but it needs time to stabilize the price.

I believed all these yardsticks and factors ( Bakkt futures volume increment and president XI jinging pronouncement on blockchain) culminated and accelerated the recent pump in the price of bitcoin, altcoin price will also be driven upward and new ICOs will have the confidence of new investors as the market is turning green more funds might be pump in the crypto market all indications are positive signals of the market outlook as the year is coming to end.

[nelson4lov]

That's what I've always been saying about Bakkt. Because it didn't had the dream start we all hope it would doesn't mean we should write them off. Bakkt will play a pivotal role to get more institutional investors on board. I bet we would see more interesting stuffs from bakkt as I predict the interest in Bitcoin would go haywire just before the upcoming block reward halving event. Let's get ready for an interesting ride. Will be keeping an eye on bakkt.

[Willitivity]

I really love how BAKKT futures is playing out, slowly and gradually. At first, it didn't go exponential like CME futures which faded off in a short while. I like this build up from BAKKT. And with more people beginning to look in that direction, pro traders in BAKKT must have anchored on Bitcoin going higher and this explains the pump of few days back which is still maintaining.

[btc_angela]

Why not? It Bakkt futures will continue to spike in the next couple of days and see the price of bitcoin going five digits, then it could have a positive effects on the altcoin market. As altcoin investors might think that something might happen, like a mini bull run of sort up to the end of the year prior to the much anticipated bitcoin block halving.

[CjMapope]

Bakkt’s Bitcoin Futures Volume Explodes 260% to Trade $11M in 24 Hours

According to data from Twitter-based monitoring resource Bakkt Volume Bot on Oct. 26, Bakkt traded 1,183 Bitcoin futures contracts, or 1,183 BTC ($11 million) on Friday.

Compared to just 331 contracts ($3.1 million) on Thursday, the increase in just 24 hours was 257%, dwarfing previous jumps, which themselves had resulted in all-time highs earlier in October.

https://cointelegraph.com/news/bakkts-bitcoin-futures-volume-explodes-260-to-trade-11m-in-24-hours

Do you guys think though that since Bakkt has been having an all time high volume tradings, will the positive sentiments will spill to the alt market right now? I mean alt market needs some catalyst, so I'm thinking that this whole Bakkt entering the picture could push the price further and possible that it can have domino effect in the alts?

What are your thoughts about my theory?

imo this is a really good sign yupp   i agree with your theory
of course being a fairly unregulated market yet, i still think theres many outside whale forces that will really decide
and most people have no way of telling what or where those forces are, we only notice when BTC goes up 1k in a few hours haha

[dimonstration]

I really love how BAKKT futures is playing out, slowly and gradually. At first, it didn't go exponential like CME futures which faded off in a short while. I like this build up from BAKKT. And with more people beginning to look in that direction, pro traders in BAKKT must have anchored on Bitcoin going higher and this explains the pump of few days back which is still maintaining.

Everything that went too fast, also fast to gone like how ATH 2017 , so Bakkt continuously developing and gaining supporters will help bitcoin in uptrend without fearing if some news that might happen along it's development since it already established some traders that sees it's benefit. It all starts on a little movement till it finally gain it's potential that we all expecting when its launch few months ago.

[Patrix_1]

Hopefully this trend will continue, because the whole crypto community had huge hopes about Bakkt launch and it failed totally. Things are getting better, but Bakkt was planned as something massive and the first signs are there.

[ePesoInitiative]

Do you guys think though that since Bakkt has been having an all time high volume tradings, will the positive sentiments will spill to the alt market right now? I mean alt market needs some catalyst, so I'm thinking that this whole Bakkt entering the picture could push the price further and possible that it can have domino effect in the alts?

What are your thoughts about my theory?

Bakkt trading volume increase will not be the catalyst you are looking for. Bakkt is aimed at institutional investors and the trading is already leveraged so no need to look for an unknown altcoin to risk their money.

Altcoins need Bitcoin to break ATH price to bring in new investors interested in a coin that can deliver insane amount of profits without needing tto use leverage trading.

[redsun114]

I have read different stories on what could be the cause of the recent surge for bitcoin, and I think the most popular one is concerning the interest of china president in blockchain technology which was declared by him in a media news, and we all this this could be the cause and this could have actually drawn volume to bakkt itself.

For bakkt, something must have actually triggered their own trade volume also, because when bakkt started, they started with just 7 btc, and the moment they entered the market was when bitcoin dropped  in price them, so for the volume to have become this high which I was quite surprised about, I don’t have any much of explanation to it, but it could also be the reason too we had this surge, we really can't tell.

[aprilnot]

I hope their volume continues to increase. this will be very helpful when the market starts a reversal. maybe bakkt will be one of the pumps to increase prices btc later. and when bitcoin goes up, altcoin will sooner or later have an impact. and when that happens, maybe it's the best time to invest.