7 months ago
The combined regular trading measurement of shares successful MicroStrategy, Coinbase and Bitcoin ETFs deed $38 cardinal arsenic Bitcoin breached $89,000.
Bitcoin’s 11% rally to $89,500 connected Nov. 11 has pushed United States spot Bitcoin exchange-traded funds (ETFs), MicroStrategy Inc (MSTR) and Coinbase Global Inc (COIN) to a grounds $38 cardinal successful combined regular trading volume.
The grounds time acold surpassed the erstwhile precocious of astir $25 cardinal acceptable successful March amid Bitcoin (BTC) breaking done a long-held terms peak, according to Bloomberg Intelligence information cited by Bloomberg ETF expert Eric Balchunas.
“Lifetime records being acceptable each implicit the place,” Balchunas said. He noted that BlackRock’s iShares Bitcoin Trust ETF (IBIT) unsocial saw a grounds $4.5 cardinal successful trading volume.
“[This] points to a robust week of inflows. Just an insane day, it truly deserves a sanction a la Volmageddon,” helium added.
Source: Eric Balchunas
Bitcoin-buying concern quality steadfast MicroStrategy was 1 of the biggest gainers connected Nov. 11 time with its banal soaring implicit 25% to $340 — surpassing its highest precocious from astir 25 years agone — with a grounds $12 cardinal successful trading volume, per Google Finance.
MicroStrategy announced connected the time that it bought different 27,200 Bitcoin for astir $2.03 billion, taking its full Bitcoin holdings to 279,420 BTC.
COIN besides jumped astir 20% to adjacent astatine $324.2, surpassing the $300 milestone for the archetypal clip since 2021.
MSTR and COIN featured successful the apical 5 most-traded stocks implicit the archetypal fewer hours of the Nov. 11 trading time — adjacent much than Apple and Microsoft — Balchunas noted.
Bitcoin miners saw eye-popping gains too
Bitcoin mining firm MARA Holdings (MARA) soared 29.9% to $25.01 — with the gains taking its marketplace headdress implicit $7 billion, Google Finance data shows.
CleanSpark (CLSK) besides closed up 29.7% up connected the day, portion Bitdeer Technologies (BTDR), Hut 8 (HUT) and Bit Digital (BTBT) each closed with implicit 25% gains.
Related: Investors spot crypto markets peaking successful H2 2025: Survey
Bitcoin is presently trading astatine $89,500 — up implicit 11% successful the past 24 hours.
Positive sentiment has been mostly fueled by Donald Trump’s election win and much pro-crypto Republican politicians winning seats in the Senate and House.
Speculation that Bitcoin could go America’s adjacent strategical reserve plus is strengthening, portion respective different countries person begun showing interest, too, Bitcoin activistic Dennis Porter claims.
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