Binance Bitcoin liquidity surged before the price skyrocketed, with the total trading volume exceeding $100 million twice within one hour

2023-10-24 17:19:14

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According to ChainCatcher news, data charts from Tokeninsight show that influenced by news related to spot Bitcoin ETFs, the price of Bitcoin began to rise in the early hours of the 24th Beijing time. The liquidity of the Binance BTC/USDT trading pair surged last night and this morning, with the total amount of buy and sell orders breaking $100 million twice within an hour.

From 23:00 on October 23 to 00:00 on the 24th, the total amount of buy and sell orders for the Binance BTC/USDT trading pair exceeded $114 million, a 5.5 times increase compared to $17.7 million two hours earlier. Two hours later, the total amount of Bitcoin buy and sell orders on Binance again exceeded $100 million. Currently, the two Bitcoin trading pairs with the highest market share come from Binance, namely BTC/USDT and BTC/FDUSD. Other mainstream exchanges did not show a significant increase in liquidity during the rise in Bitcoin prices.

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