Bitcoin Price Forecast: SEC Approves Options Trading for BlackRock’s ETF – $100,000 BTC Possible in 2024?
2024-09-21

The SEC’s recent approval of options trading for BlackRock’s iShares Bitcoin ETF marks a significant step in institutional Bitcoin adoption. 
This new financial tool allows investors to hedge risks more effectively, boosting confidence in the cryptocurrency market. 
With growing institutional interest, some analysts predict that Bitcoin could reach the $100,000 mark in 2024, further strengthening its position as a leading asset.SEC Approves Options Trading for BlackRock’s iShares Bitcoin Trust
The U.S. Securities and Exchange Commission (SEC) has approved the listing and trading of options on BlackRock’s iShares Bitcoin Trust (IBIT). This allows investors to manage and hedge their Bitcoin exposure through these new options. 
The SEC has approved options on Blackrock's . 🔥🔥🔥📈📉 — Larrell Stennett (@lrrllstnntt) 
The options will follow U.S. exercise methodology, meaning they can be physically settled and exercised before expiration. Strict monitoring will ensure compliance and prevent market manipulation, similar to other ETF options.
🇺🇸 JUST IN: BlackRock's Spot ETF Receives Options Approval from SECThe SEC has officially granted accelerated approval for the listing and trading of options on the iShares Bitcoin Trust (IBIT) through Nasdaq ISE. — Cointelegraph (@Cointelegraph) 
This approval marks a significant step in Bitcoin’s integration into regulated markets, boosting institutional confidence and potentially increasing Bitcoin demand.MicroStrategy Boosts Bitcoin Holdings with $458M Purchase, Eyes $1B Total
MicroStrategy has expanded its Bitcoin (BTC) holdings, purchasing 7,420 BTC for $458.2 million between September 13 and 19, 2024, at an average price of $61,750. To fund the acquisition, the company increased its initial $700 million convertible note offering to $1.01 billion. 
MicroStrategy now holds 252,220 BTC, valued at over $16 billion, acquired at an average price of $39,266 per BTC.
: MicroStrategy raises $1 billion via latest debt offering, reveals it bought 7,420 Bitcoin this weekRead the full article 👇 — CryptoSlate (@CryptoSlate) 
Under CEO Michael Saylor, MicroStrategy continues to lead corporate Bitcoin adoption, signalling plans to purchase more. While the company’s stock dipped 1.5%, this reflects broader market trends.
MicroStrategy’s aggressive Bitcoin strategy strengthens institutional confidence, potentially driving BTC prices higher by reducing available supply.Trump’s Bitcoin Stunt Boosts Crypto Appeal with Pro-Crypto Stance
Former President Donald Trump made headlines on Free Cheeseburger Day by conducting a public Bitcoin transaction at PubKey, a Bitcoin-themed bar in New York City.
JUST IN: 🇺🇸 Donald Trump bought almost $1,000 worth of burgers and drinks in yesterday. — Bitcoin Magazine (@BitcoinMagazine) 
During the event, Trump voiced support for a pro-crypto regulatory environment and urged his supporters to vote in November. 
Although he once called Bitcoin a “scam,” Trump has now embraced cryptocurrency, raising $25 million in donations, mostly in Bitcoin.
In the room where it happens. — PUBKEY (@PubKey_NYC) 
Trump’s new crypto stance could boost Bitcoin’s appeal and drive up demand.Bitcoin Tests Key Resistance at $63,000 Amid Bullish Run
Bitcoin (BTC/USD) trades around $63,000 after hitting an intraday high of $63,546. The price is currently facing resistance near $63,800, which aligns with the upper boundary of the ascending channel. 
Immediate resistance stands at $64,154, with further targets at $65,536 and $67,329.
On the downside, immediate support is seen at $62,357, followed by $60,777, where the upward trendline also offers psychological support around $60,000. 
The 50-day EMA, positioned at $60,727, is another key technical indicator supporting the current bullish momentum.
The Relative Strength Index (RSI) is at 61.72, having retreated from overbought levels, suggesting a potential bearish correction. 
A drop below $62,000 could trigger further downside toward $60,600. However, if BTC holds above $62,000, a bullish rally is likely to continue.You might also likeBitcoin Price Prediction 2024 – 2034Why Pepe Unchained ($PEPU) Is a Strong Addition to Your Crypto Portfolio
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