Coinspeaker Bitcoin Hits Record $145 Billion in 24-Hour Trading Volume amid Surge in Interest
At the ongoing rate, there is seemingly no record that Bitcoin BTC $87 447 24h volatility: 2.3% Market cap: $1.73 T Vol. 24h: $128.13 B will not shatter even as it continues to put up one of its greatest performances since its inception. According to crypto services provider Matrixport, Bitcoin has set another record after its trading volume hit an all-time high of $145 billion in just 24 hours. Matrixport shared the record in a Wednesday announcement on social media platform X, detailing the impressive rise in trading activity.
Record Trading Volume, Other Factors Show Renewed Investor Interest in Bitcoin
For what it’s worth, a surge in trading activity is usually an indicator of renewed interest among both retail and institutional investors. However, this particular time, there has been an increase so massive that it is nearly 50% higher than levels seen during the market’s flash crash in August and the previous peak in March this year.
For expert analysts, this spike in trading volume can be taken as a potential signal that bullish times lie ahead.
As past bull markets have often proven, higher trading activity usually means that retail investors are returning to the crypto market. The activity of these retail traders, meanwhile, can last for several weeks or sometimes even months. So, from all indications, the near-term future of Bitcoin is looking bright.
Google Search Interest Also Hits Five-Year High
Interestingly, the increase in trading volume is currently being supported by the online interest in Bitcoin. This follows after Google search interest for Bitcoin also reached a five-year high of 78%.
With this, one can safely infer that the general public is becoming more curious or better still more aware of cryptocurrency. As expected, this will eventually translate to more investors trying out Bitcoin as a potential investment.
Notably, there is another indicator of Bitcoin’s growing popularity. That is seen in the recent performances of its exchange-traded funds (ETFs). For context, inflows into Bitcoin ETFs have surpassed $1 billion for two consecutive weeks. This shows the level of confidence from institutional investors who view Bitcoin ETFs as a safer way to gain exposure to the crypto market.
The combination of increased trading volume, record-breaking search interest, and significant ETF inflows suggests that Bitcoin may be nearing a strong bullish phase. That is if it hasn’t already. Although the crypto market is known for its volatility, the current trends point to the fact that investors are unshaken in their belief that the coming weeks will be a great one for Bitcoin.
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Bitcoin Hits Record $145 Billion in 24-Hour Trading Volume amid Surge in Interest
