Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Industrial Bitcoin Complex Trading Volume Reaches $70 Billion

Industrial Bitcoin Complex Trading Volume Reaches $70 Billion

HappyCoinNewsHappyCoinNews2024/11/23 04:22
By:HappyCoinNews

On November 21, the volume of trading in the assets of Industrial Bitcoin -complex" in the USA reached $70 billion and thus set a new record.

"Industrial Bitcoin -complex" includes BTC shares- ETF and shares of companies whose business is somehow related to bitcoins. The list of these companies includes, for example, the organization MicroStrategy, which invested $32,8 billion in BTC, and the cryptocurrency exchange Coinbase.

Bitzumiye: Today's trading volume of Industrial assets Bitcoin -complex" amounted to $70 billion and broke yesterday's record. About $50 billion of the trading volume was accounted for by shares of MicroStrategy and its two friends [ ETF on MicroStrategy shares].

 

IBIT turnover [ bitcoin ETF iShares Bitcoin Trust] was also at a high level and reached $5 billion, which is the second highest indicator. Trading volume of MSTZ [T-REX 2X Inverse MSTR Daily Target ETF ] increased to $1 billion for the first time, the analyst said ETF Eric Balchunas.

Industrial Bitcoin Complex Trading Volume Reaches $70 Billion image 0

Change in the trading volume of Industrial assets Bitcoin -complex"

Turnover of assets of Industrial Bitcoin -complex" peaked amid the bullish rally that continued in the Bitcoin market. On November 22, the cryptocurrency's rate once again broke the previous record, reached $99,404 on the stock exchange Bitstamp and came very close to the coveted figure of $100,000.

MicroStrategy's stock price, on the other hand, plunged 32% as Citron Research and many other investors decided to get rid of from the company's shares, which rose 137% during the Trump pump. Bitcoin over the same period, it gained only 47% in price, so it can be assumed that traders considered the MicroStrategy stock market overheated and preferred to take profits.

EN @happycoinnews
EN @happycoinnews_en
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Trump and Wall Street: How long will the love affair last?

Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.

Cryptopolitan2024/11/24 03:44