Bitcoin continues to trade at record levels.
According to checkonchain data, Wednesday’s $130 billion bitcoin (BTC) volume was one of the highest in its history. Trading volume has increased since President Trump won the US election at the beginning of November, doubling from a daily average of $65 billion.
The futures market (the total traded futures contracts) yesterday saw $110 billion worth of volume. This was the fifth-highest futures trading volume on record, bettered only by a few days in November and December last year.
The spot market saw about $15 billion of volume traded, approaching an all-time high. Meanwhile, bitcoin ETFs saw about $5 billion worth of trading volume, which is roughly half of the all-time high seen in March 2024.
It is worth noting that the volume of options is not included in the $130 billion daily volume figure, but it is also growing rapidly. According to Glassnode data, the total value of options contracts traded in the last 24 hours is more than $3 billion.
With bitcoin vying to become a global settlement layer, the more volume and liquidity that can be generated, the greater the asset’s chance to onboard institutions that want to settle billions of dollars at a moment’s notice.
