Bitcoin Trades at Over $10,000 for First Time Since February – May 8

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,894

Bitcoin price has once again propelled itself through old resistance levels, briefly breaking the $10,000 mark yesterday before settling in the high $9,000s.

Top-20 altcoins are mostly in the green, as Ethereum gains over 2%, XRP rises 1%, and Monero gains 6%.

Top Stories for May 8, 2020 🔥

👉 Bitcoin Trades at Over $10,000 for First Time Since February

In a much-anticipated lead-up to the Bitcoin block reward halving, its price traded above $10,000 for the first time since February of this year.

The milestone is a huge indicator of strength of the asset, which had holders panicking in March following a significant 50% flash-crash.

The Bitcoin block reward halving is now only a matter of days away, expected to occur on May 12th.

👉 Deribit Exchange Follows BitMEX, Bans Japanese Traders

In accordance with tightened cryptocurrency laws in Japan, cryptocurrency derivatives exchange Deribit has followed in the footsteps of BitMEX and banned Japanese traders.

BitMEX blocked new sign-ups and existing users based in Japan beginning last week. Other derivatives platforms including OKEx and FTX are also evaluating their respective situations relating to the law changes.

👉 Bitcoin Options Volumes Surpass $1 Billion in Open Interest

Bitcoin options contracts across all major providers have crossed the $1 billion mark today, setting a new record high for the investment instruments.

The contracts are provided by platforms such as Deribit, Bakkt and CME, and give the buyer the right (but not the obligation) to buy or sell Bitcoin at a pre-determined price, up to a certain date.