After the U.S. presidential elections, Bitcoin's trading volume saw a notable surge, reaching a record $145 billion in the last 24 hours.
Individual Investor Interest Reawakens
According to Matrixport, the recent surge in trading volume signals a resurgence of interest among individual investors in the cryptocurrency market. Historically, these investors tend to show high engagement during bull markets for weeks or months. This increase can be interpreted as a bullish signal for the Bitcoin market.
High Demand for Spot Bitcoin ETFs
In the U.S., spot Bitcoin ETFs have emerged as another indicator of rising interest. Following the U.S. elections, over $1 billion flowed into spot Bitcoin ETFs on two consecutive days. These inflows reflect investors' confidence in the largest cryptocurrency, indicating a swift market recovery.
Current Cryptocurrency Market Situation
Currently, Bitcoin is trading at $87,558, reflecting a 1.18% decrease in the last 24 hours. Additionally, the market capitalization of the largest cryptocurrency stands at $1.73 trillion. The total market capitalization of the cryptocurrency market hovers around $2.9 trillion, demonstrating Bitcoin's continued dominance with a market share exceeding 60%.
The rise in Bitcoin's trading volume post-U.S. elections suggests a renewed interest in cryptocurrencies among individual investors. This may indicate continued market activity in the near future.
