CBOE options exchange from Chicago placed the new and the fourth settlement for bitcoin futures.
The settlement was placed on April 18 at 4:00 AM UTC when the price of bitcoin was at around $8,055. The settlement price can be seen on the Gemini 1 Exchange dedicate for bitcoin auctions. The next settlement will be placed on May 16, 2018.
The last settlement started on March 15 with a fixed price of $8,236 and ended on April 14.
Since their launch, the futures contracts have become an interesting indicator for the prices on the crypto market. The price of bitcoin is known to influence the entire market and since the futures are a speculative tool the crypto market has become full of surprises.
The CBOE bitcoin futures were launched on December 10, 2017, before its competitor CME group. According to the data, until April 18, CBEO managed almost 560,000 bitcoin contracts which are estimated to be more than $5.5 billion.
The most recent event, was bitcoin’s sudden increase with $1000 in just a few hours. The spike was related with the expiry of the last futures contract. At that time we’ve published an article about the possible reason for bitcoin’s sudden increase increase in price. And the reason might be a large number of stop-loss orders