Bitcoin reaches new high near $94,700 as ETF options trading surges

Bitcoin reached a new high of approximately $94,700 on Tuesday, following a significant rise in cryptocurrency values after the U.S. elections. The price has increased by 125% this year, with Bitcoin trading around $94,600 on Wednesday morning. Options trading for spot Bitcoin ETFs launched this week, with BlackRock reporting nearly $1.9 billion in contracts on the first day. This includes a high call-to-put ratio, indicating investor optimism about Bitcoin's future price movements. Grayscale and Bitwise are also set to launch their own options. MicroStrategy announced a $4.6 billion Bitcoin purchase and plans to present Bitcoin as an investment strategy to Microsoft's board. The company currently holds 331,200 Bitcoin, valued at about $16.5 billion.