Bitcoin spot ETF surges for all-time high trading volume

Spot bitcoin ETF reaches all-time high and records new trading volume for straight 2days.

In the midst of the most recent Bitcoin boom, spot Bitcoin (BTC) exchange-traded funds (ETFs) have seen two new all-time highs in trading volumes over the last two days, indicating that market players are still interested in them. 

According to Santiment, the combined trading volume for the seven largest spot Bitcoin ETFs stood at $7.64 billion as of Feb. 26.

This figure represents the current record high, having surpassed the previous record of $6.15 billion by $1.49 billion. Interestingly, the market witnessed the $6.15 billion high on Feb. 25, suggesting that the latest ATHs were obtained in two consecutive days.

The current uptick in trade volume comes after a period of sustained downtrend in this metric since a $4.52 high on Feb. 19. Notably, volume saw three consecutive days of persistent declines, collapsing to a one-week low of $1.64 billion on Feb. 22.

Within this period, BTC observed significant bearish pressure, which contributed to the reduced interest in spot Bitcoin ETFs. The asset experienced three straight intraday losses from Feb. 20 to 22, dropping by nearly 3% to the lower spectrum of the $50K thresh

Source : https://crypto.news/