Bitcoin ETFs, Coinbase, MicroStrategy See Record $38B Trading Surge
- Bitcoins 11% surg to $89,500 boostd U.S. Bitcoin ETFs, Coinbase, nd MicroStrategy to $38 billion in trding volum.
- MicroStrategys stock sord 25%, surpssing its 25-yr high, whil cquiring 27,200 dditionl BTCs vlud t $2.03 billion.
- Bitcoin rlly drov mining stocks up ovr 25%, with MARA, CLSK, nd Canaan posting imprssiv gins.
Bitcoins rcnt 11% ris to $89,500 on Novmbr 11 pushd th combind trding volum of U.S. Bitcoin ETFs, Coinbs Globl Inc. (COIN), nd MicroStrtgy Inc. (MSTR) to n unprcdntd $38 billion in singl dy. This milston surpsss th previous rcord of round $25 billion in Mrch, whn BTC brok long-stnding pric lvl, ccording to Bloombrg Intllignc dt.
Th surg ws undrscord by BlckRocks iShrs Bitcoin Trust ETF (IBIT), which lon rchd rcord $4.5 billion in trding volum. Bloombrg ETF nlyst Eric Blchuns mphsizd th significnc of this dvlopmnt, stting, Liftim rcords bing st ll ovr th plc Just n insn dy, it rlly dsrvs nm l Volmgddon.
MSTR and COIN Outperform Tech Giants
MicroStrategy, mrgd s mjor bnficiry of th mrkt surg. Its stock pric sord ovr 25% on th sm dy, rching $340 nd clipsing its pk from nrly qurtr-cntury go. This imprssiv gin ws ccompnid by rcord-brking $12 billion in trding volum for MicroStrategy, s rportd by Googl Finnc.
Furthr strngthning its BTC holdings, MicroStrategy nnouncd purchs of 27,200 dditionl Bitcoins on th sm dy. This cquisition, vlud t roughly $2.03 billion with n vrg pric of $74,463, brings th compnys totl holdings to 279,420 BTC, with n stimtd vlu of $11.9 billion. Notbly, MicroStrategys vrg cquisition cost pr BTC cross ll purchss now stnds t $42,692, including ll ssocitd costs.
Mnwhil, COIN lso xprincd significnt rlly, climbing nrly 20% to clos t $324.2, mrking th first tim it surpssd th $300 lvl sinc 2021. Both MSTR nd COIN rnkd mong th top fiv most-trdd stocks during th rly hours of Novmbr 11, surpssing vn tch gints lik Appl nd Microsoft, notd Blchuns.
Bitcoins Rally Boosts Mining Stocks Over 25%
Positiv sntimnt round Bitcoin xtndd to th crypto mining sctor. MARA Holdings (MARA) surgd 29.9% to $25.01 pr shr, lifting its mrkt cp bov $7 billion. ClnSprk (CLSK) gind 29.7%, whil Bitdr Tchnologis (BTDR), Hut 8 (HUT), nd Bit Digitl (BTBT) ll ros ovr 25%. Additionlly, Cnn xprincd 41.28% incrs, rbounding from 14% drop lst Fridy.
Bitcoins currnt trding pric is $88,907, up ovr 9.27% in th pst 24 hours. Trding ctivity hs spikd by 57.35%, with its mrkt cp now rching $1.76 trillion, rflcting th intns trding intrst nd invstor nthusism.
Brdly Duk, hd of Europ t Bitwis, crypto fund mngmnt firm, ttributd th rcnt mrkt surg to Donld Trumps lction win. According to Duk, Invstors s th Trump victory s strong tilwind for crypto, xpcting it will ushr in goldn g of crypto. Duk mphsizd tht Trumps pro-crypto stnc is driving optimism.
Crypto dvoct Dnnis Portr pointd out tht growing spcultion round Bitcoin bcoming U.S. strtgic rsrv sst is fuling mrkt xcitmnt, with othr ntions showing similr intrst, lding to incrsd trding volums.
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Read more: https://www.tronweekly.com/bitcoin-etfs-coin-mstr-see-38b-trading-surge/
Text source: TronWeekly
