Bitcoin’s 11% surge to $89,500 on November 11 pushed U.S. Bitcoin spot funds (ETFs), MicroStrategy Inc (MSTR) and Coinbase Global Inc (COIN) to a record total daily trading volume of $38 billion.
The record day far exceeded the previous peak of around $25 million, which occurred in March as Bitcoin (BTC) broke through a long-held price high, According to based on Bloomberg Intelligence data cited by Bloomberg ETF analyst Eric Balchunas.
“Personal records are being broken everywhere,” Balchunas said. He noted that BlackRock’s iShares Bitcoin Trust ETF (IBIT) alone saw record trading volume of $4.5 billion.
“[This] indicates a solid week of fund inflows. Just a crazy day, it really deserves the name a la Volmageddon,” he added.
Source: Eric Balchunas
Bitcoin-buying business intelligence firm MicroStrategy was one of the biggest gainers on November 11 thanks to its shares soaring over 25% to $340 – surpassing its peak of almost 25 years ago – with record trading volume of $12 billion, for Google Finance.
Micro-strategy announced on the day he purchased another 27,200 Bitcoins for approximately $2.03 billion, increasing his total Bitcoin holdings to 279,420 BTC.
COIN also jumped almost 20% to close at $324.2, crossing the $300 mark for the first time since 2021.
MSTR and COIN were among the top five most traded stocks in the first few hours of the trading day on November 11 – even more than Apple and Microsoft – Balchunas excellent.
Bitcoin miners have also seen stunning profits
Bitcoin mining company MARA Holdings (MARA) surged 29.9% to $25.01 – with gains surpassing market cap of over $7 billion, Google Finance data can be seen.
CleanSpark (CLSK) also closed the day up 29.7%, while Bitdeer Technologies (BTDR), Hut 8 (HUT), and Bit Digital (BTBT) closed up more than 25%.
Related: Investors Believe Crypto Markets Will Peak in H2 2025: Survey
Bitcoin is currently trading at $89,500 – up over 11% in the last 24 hours.
The positive mood was largely fueled by Donald Trump’s electoral victory and the acquisition of seats in the Senate and House of Representatives by a larger number of pro-crypto-Republican politicians.
Speculation that Bitcoin could become America’s next strategic reserve asset is strengthening, while several other countries have also started to show interest, Bitcoin activist Dennis Porter claims.
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