On November 11, as Bitcoin rose 11% to $89,500, the total daily trading volume of the U.S. spot Bitcoin Exchange Traded Fund (ETF), MicroStrategy Inc (MSTR), and Coinbase Global Inc (COIN) recorded $38 billion. .
The record day comes as Bitcoin (BTC) breaks through its long-held price peak, reaching around 2,500 points set in March, according to Bloomberg Intelligence data cited by Bloomberg ETF analyst Eric Balchunas. It was well above the previous high of $10,000.
“Lifetime records are being set everywhere,” Balchunas said. He noted that BlackRock’s iShares Bitcoin Trust ETF (IBIT) alone hit a record $4.5 billion in trading volume.
“(This) represents a week of active inflows. “It was a crazy day, and it fully deserves the name Bolmageddon,” he added.
source: Eric Balchunas
Buy Bitcoin Business intelligence company MicroStrategy was one of the biggest gainers on November 11, with its stock soaring more than 25% to $340, surpassing its record high from nearly 25 years ago. Trading volume hit an all-time high of $12 billion, according to Google Finance. .
MicroStrategy announced today that it purchased an additional 27,200 Bitcoins for approximately $2.03 billion, bringing its total Bitcoin holdings to 279,420 BTC.
COIN also rose nearly 20% to close at $324.2, surpassing $300 for the first time since 2021.
MSTR and COIN were among the top five most traded stocks during the first few hours of the trading day on November 11th. This is much more than Apple and Microsoft, Balchunas noted.
Bitcoin miners also saw notable gains
Bitcoin mining company MARA Holdings (MARA) surged 29.9% to $25.01, giving it a market capitalization of over $7 billion, according to Google Finance data.
CleanSpark (CLSK) also ended the day up 29.7%, while Bitdeer Technologies (BTDR), Hut 8 (HUT), and Bit Digital (BTBT) all closed up more than 25%.
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Bitcoin is currently trading at $89,500, up more than 11% in the last 24 hours.
Positive sentiment has been greatly strengthened by Donald Trump’s election victory and the gains of Senate and House seats by Republican politicians who support cryptocurrencies.
Bitcoin activist Dennis Porter has claimed that speculation is intensifying that Bitcoin could become America’s next strategic reserve asset, with several other countries starting to show interest.
magazine: Asian cryptocurrency traders profit from Trump victory, China’s 2025 CBDC deadline.