Share this article
Bitcoin Price Rallies 3.7 Percent to Hit Two-Month High
The price of bitcoin (BTC) has risen once again after a successful launch of CME’s bitcoin options.
Updated Sep 14, 2021, 1:51 p.m. Published Jan 14, 2020, 3:26 a.m.
The price of bitcoin has risen once again after a successful launch of CME’s bitcoin options surpassed rival Bakkt on its BTC futures contracts in the first day of trade volume.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
On Jan. 14 at around 00:30 UTC, the price of the world’s largest cryptocurrency by market value rose above an area of resistance that had stifled previous rallies near $8,200 for over a week beginning Jan. 7.
As of press time, BTC is changing hands at $8,413 after reaching its highest point in nearly two months at around $8,446, CoinDesk BPI data shows.
This comes several hours after the successful launch of Chicago-based derivatives exchange CME’s futures contracts for BTC, which surpassed rival Bakkt in reported volume within its first day of trading.
Global Head of crypto trading giant Cumberland, Chris Zuehlke said institutional investors are seeking traditional risk management tools to support greater entry into crypto.
“As with any new financial product, we expect volume will grow organically as investors get more comfortable trading it,” Zuehlke said.
An option on a futures contract gives a holder the right, but not the obligation, to buy or sell a specific futures contract at a strike price on or before the option's expiration date.
Joshua Green, head of trading at cryptocurrency trading firm Digital Asset Capital Management, said the rise in BTC’s value was “nothing obvious” citing a potential short-squeeze.
“Maybe some negative gamma from spot moving through that strike (of $8,250) or people covering shorts that were put on in a notification of Chinese New Year sell-off,” Green said.
Justin Chow, global head of business development at Cumberland said BTC's recent rally was being led by altcoins, specifically BTC forks such as Bitcoin SV and Bitcoin Cash.
"While the CME BTC Options launch corresponded to the move, BTC forked coins and other altcoins that have upcoming halvings are the strongest performers," Chow said.
BSV and BCH are currently posting a 22.1 and 6.84 percent rise respectively over a 24-hour period.
Other notable cryptocurrencies are also up on BTC’s good fortune with ether and XRP both up 2.95 and 2.16 percent, respectively.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
