#tradin

The bitcoin market is on fire. This week, trading volume skyrocketed to 8 billion dollars, nearly tripling the 2.9 billion recorded days earlier. Not only that: the price of bitcoin soared to 93,500 dollars, a level not seen in almost two months. With frenzied activity in both spot trading and derivatives, bitcoin is capturing all the attention at a time of global changes.

Glassnode's data paints a vibrant picture. Open interest in bitcoin futures grew from 36.2 billion to 38.6 billion dollars in just 36 hours, marking the highest level since the end of March. This increase indicates that traders are betting heavily, whether on a rise or a fall in price. However, the boom in spot trading, which reflects direct purchases and sales, suggests that demand is pushing the upward trend with conviction.