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“Peculiar” BTC Price Action Sparks Volume Surge

Written by:
Aaron Goldstein
Published on:
Jun/02/2020

The price of Bitcoin shot above the $10,000 mark for the first time since February.

Here is what we know:

Investors are buying the largest cryptocurrency at five figures, not selling. 

According to data from monitoring resource Coin Metrics on June 2, one 10-minute period alone saw trading volume hit a giant 3,500 BTC. 

As markets climbed to highs of $10,340, exchanges saw a sudden surge of interest, with Bitfinex specifically producing what Coin Metrics described as “very strange” behavior. 

“#Bitcoin prices on Bitfinex just did something very strange and are now trading at a $40 premium to the rest of the market,” the company tweeted. 

- Aaron Goldstein, Gambling911.com

Business/Financial News

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