30s Summary

Bitcoin-related stocks like MicroStrategy and Coinbase saw a surge in trading volume on November 21st, totaling over $70 billion as Bitcoin’s price rose past $98,300. This broke the previous record of $55 billion from the previous day, largely driven by MicroStrategy’s popularity among US traders. Despite a significant drop in MicroStrategy’s shares, it contributed to the massive trading volume. Bitcoin’s record-breaking price rise was attributed to a 5% increase, and it remains close to the significant $100,000 milestone.

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Bitcoin and related stocks like MicroStrategy and Coinbase really made some noise on Nov. 21st. They pulled in over $70 billion in total trading volume as Bitcoin’s price soared past $98,300.

To put that into perspective, the previous record was $55 billion just one day before, and that was hugely because of MicroStrategy being a hot pick among US traders, as reported by Eric Balchunas from Bloomberg.

MicroStrategy played a big role in the massive trading volume on the 21st too, despite its shares dropping by more than 25% from its peak of $536.7 to $397.28 by the end of the day.

Keep in mind that Bitcoin’s spike to a record-breaking $98,311 happened because of a 5% price increase, as per CoinGecko data. And, though it’s slipped a bit to $98,075, it’s just under 2% away from the big $100,000 landmark.