Along with the growing retail interest, Bitcoin transfers to Coinbase have also started to surge. Are investors preparing to take profit?
Bitcoin (BTC) spot trading volume across centralized exchanges recorded its best day over the past year on March 5, with a combined daily volume of $46.26 billion, suggesting that more retail investors have started buying the world’s first cryptocurrency.
Following the yearly high, Bitcoin spot trading volume cooled to $31.32 billion on March 6, with Binance accounting for over 74%, or $18 billion, of the daily volume.
“People are buying Bitcoin. Spot trading volume has shot up almost 680% since the start of the year,” according to a March 6 X post by Mallika Kollar, quantitative research associate at Bitwise.
