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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.

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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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