Bitcoin surges as futures trading launches
The price of Bitcoin has spiked following the launch of Bitcoin futures trading on CBOE. According to Bloomberg, futures contracts climbed more than 20% following the launch and triggered two trading halts to reduce volatility. Trading halts stop trading for two minutes after a 10% change in price, and for five minutes after a 20% price shift.
Bitcoin has increased from £13,300 to around £16,600 in the past 24 hours, but volume on futures contracts has reportedly been lower than expected.
CBOE’s website serves quotes and information on futures contracts and does not provide the functionality to trade options – but it went down temporarily due to an increase in traffic following the launch of Bitcoin futures.