• 34ºc, Sunny

Matrixport: Bitcoin's trading volume has reached a record high in the past 24 hours, which can be seen as a bullish signal

On November 13, Matrixport released a daily chart report saying that in the past 24 hours, Bitcoin's trading volume has exceeded $145 billion, setting a record high, which is nearly 50% higher than the flash crash in early August and the peak in March this year. This surge in trading volume indicates that retail investors are returning to the crypto market. According to historical data, during the bull market phase, retail trading activity cycles usually last for weeks or even months, so the increase in trading volume can be regarded as a bullish signal. Google searches for bitcoin have also risen sharply, reaching 78% of the highest level in the past five years. In addition, since the US presidential election, bitcoin ETF inflows have exceeded $1 billion for two consecutive days.