Market Wrap: Bitcoin’s price was on a steady run upward Tuesday, hitting as high as $13,756.33 before settling down to $13,668, according to CoinDesk 20 data. It is now within reach of its 2019 high of $13,879.24
Michael Rabkin, Head of Institutional Sales at DV Chain and Head of Partnerships at DVeX told CoinDesk that “we’ve seen increased buying activity over the last two weeks. There has been a lot of news surrounding Bitcoin over this time and most of it positive. On top of that, the U.S. is close to approving a record $1.8 trillion stimulus plan. People are looking at alternatives like Bitcoin to protect their wealth.”
Judging by the Bitcoin options market’s open interest, positive sentiment seems to be picking up. Monday saw bitcoin options open interest crack $2.5 billion for the second time in October, with the first time being last Thursday, Oct. 22 according to Skew.
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