Institutional interest drives Bitcoin trade volume to $ 4.2 trillion - March records the highest numbers
Institutional interest drives Bitcoin trade volume to $ 4.2 trillion - March records the highest numbers
Bitcoin has experienced a strong institutional interest in recent months, as well as the interest of the mainstream in the entire cryptocurrency industry. As a result, Bitcoin's trading volume exploded in the first half of 2023 and exceeded $ 4.2 trillion on various exchanges.
According to Bitcoinity.org, the BTC trading volume in the crypto bonds finally reached the record high of $ 4.2 trillion throughout the first half of the year. March recorded the highest monthly BTC trade volume with $ 1.2 trillion.
The past year was a difficult year for Bitcoin and the entire cryptocurrency industry. Market analysts initially forecast a further decline for BTC. But the award started to relax in January and in April he cracked the $ 30,000 mark for the first time in 12 months.
This first Bitcoin high in a year indicated a revived upward market. But the upward mood did not last long and the BTC Prize fell to $ 28,000 again. The Bitcoin trade volume was $ 492.9 billion during this time.
In June, however, the situation changed when it became known that several investment companies such as Blackrock, Fidelity and Investco submitted applications for Bitcoin-Spot ETFs to the SEC. This announcement raised hope that mainstream investors would soon be given access to Bitcoin. As a result, the Bitcoin course rose to over $ 30,000 at the end of June and yesterday reached a 13-month high of $ 31,500.For the second half of 2023, a wild journey is expected in the world of cryptocurrencies and bitcoin. With a BTC volume of more than $ 4.2 trillion in the first half of the year, it is clear that the interest of the mainstream in the cryptocurrency is increasing.
Investment companies such as Blackrock have updated their applications for Bitcoin-Spot ETFs at the SEC. The investors are looking forward to the next steps. If the ETFs are approved, this would be a decisive turning point for cryptocurrency.
According to Glassnode, an on-chain analysis company, the over one year old inventory of Hodlers from BTC with 13.4 million BTC has reached a new all-time high, as more and more investors are opting for long-term investments.
With the increasing expectations in relation to the ETFs, an increase in prices is also expected. If this occurs, a higher participation of investors would lead to a higher trading volume for Bitcoin.
It is expected that the volatility and price development of the bitcoin will continue to be exciting in the second half of 2023. Investors and experts are eagerly watching the developments and waiting for more positive news from the crypto world.
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