Matrixport: Bitcoin's trading volume hit a record high in the past 24 hours, which can be regarded as a bullish signal
On November 13th, Matrixport released a daily chart report stating that in the past 24 hours, Bitcoin's trading volume has surpassed $145 billion, reaching a historical high and nearly 50% higher than the flash crash in early August and the highest point in March.
This surge in trading volume indicates that retail investors are returning to the cryptocurrency market. According to historical data, during a bull market phase, the active trading period for retail investors usually lasts for several weeks or even months, so the growth in trading volume can be seen as a bullish signal.
The Google search volume for Bitcoin has also significantly increased, reaching 78%, the highest level in the past five years. In addition, since the US presidential election, the inflow of funds into Bitcoin ETF has exceeded $1 billion for two consecutive days.
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.
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