Pro-cryptocurrency candidate will lead the U.S. Department of Commerce, and ETF options listing drives Bitcoin to new highs

With the listing of Bitcoin ETF options, the price of Bitcoin has reached a new high, peaking at $93,905 per coin. The market expects that Bitcoin ETF options will likely increase financial institutions' exposure to Bitcoin. Options contracts allow investors to buy or sell an asset at a specific price and predetermined time. Noelle Acheson, former head of market insights at Genesis, stated that while the Chicago Mercantile Exchange has already offered Bitcoin options, Bitcoin ETF spot options are a significant development for both retail and financial institutions. A deeper onshore derivatives market will enhance the growing complexity of the market, boosting investor confidence in Bitcoin, attracting new investor groups, and enabling more diversified investment and trading strategies. Additionally, earlier reports about Howard Lutnick, a pro-crypto figure, being nominated by Trump for Secretary of Commerce also contributed to the rise in Bitcoin