BTC Trading Volume Breaches $1 Billion Amid Market Crash

Trading volumes for Bitcoin (BTC) exchange-traded funds (ETFs) soared past $1 billion as trading commenced on August 5, driven by plummeting markets that led to “extremely elevated” trading activity in the crypto sector, according to Alex Thorn, head of research at Galaxy Digital. In a post on the X platform, Thorn highlighted that within just 20 minutes, Bitcoin ETFs recorded over $1.3 billion in trading volume, with iShares Bitcoin Trust leading the pack at over $875 million. Thorn anticipates net inflows for BTC ETFs due to “dip buying” as investors rush to capitalize on an approximate 8% drop in spot

Source: CryptoIntelligence