Bitcoin Logs Record-Breaking Holiday Volume
Alex Dovbnya Bitcoin recorded $46 billion in spot trading volume on Monday Cover image via www.freepik.com According to David Lawant, head of research at FalconX, Bitcoin, the flagship cryptocurrency, recorded a whopping $46 billion in spot trading volume on Monday. This is the largest print ever recorded during a holiday/weekend, according to Lawant. Notably, this is also the fifth-biggest volume print of all time. The stock market was closed on Monday as Americans were celebrating Martin Luther King Day to honor the famous civil rights advocate. Yesterday, the price of Bitcoin reached a new record high of $109,356. However, this rally was short-lived. The cryptocurrency ended up briefly retracing below the $100,000 level during the same day, printing an ugly candle on the chart.The market was disappointed by the lack of mention of a strategic Bitcoin reserve on Monday in the US despite high expectations. The likelihood of the reserve being established in the US within the next 100 days has plunged to just 33%. This disillusionment has likely contributed to the significant Bitcoin correction. Related At press time, it is changing hands at $101,753 on the Bitstamp exchange. According to data provided by CoinGlass, $747.71 million worth of crypto has been liquidated over the past 24 hours alone. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. About the author Alex Dovbnya Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected]. Related articles