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Analysis

Two bullish bitcoin analysts predict demand will continue as trading surges

Bitwise CIO Matt Hogan wrote on X (Twitter), "Several bitcoin spot ETFs saw record trading volumes on Tuesday (US time). Demand for ETFs is likely to continue." The Bitwise Bitcoin ETF (BITB) traded 6.3 million shares ($179 million) on Tuesday, according to Yahoo Finance. Trading volume in VanEck...

Two bullish bitcoin analysts predict demand will continue as trading surges

Bitwise CIO Matt Hogan wrote on X (Twitter), "Several bitcoin spot ETFs saw record trading volumes on Tuesday (US time). Demand for ETFs is likely to continue." The Bitwise Bitcoin ETF (BITB) traded 6.3 million shares ($179 million) on Tuesday, according to Yahoo Finance. Trading volume in VanEck and WisdomTree's spot bitcoin ETFs was even higher. Excluding GBTC, U.S. spot bitcoin ETFs saw nearly $2 billion in trading volume. This is the largest volume since the ETFs' first day of trading. Earlier, Coinness reported that the daily trading volume of the VanEck BTC ETF topped $258 million, 14 times the previous average trading volume.

blockchain crypto cryptocurrency bullish analyst matt bitwise (SpotedCrypto)

Another bullish analyst, Bloomberg analyst Eric Balchunas, tweeted via X: "Daily trading volume for VanEck Bitcoin ETF (HODL) topped $258 million. That's 14 times the historical average volume." He continued, "I don't know what happened. The number of trades spiked," he said, "and it didn't come from a single institutional investor. There were 30,000 individual trades on HODL, 60 times the average (in terms of number of trades). I don't know how to explain that. I don't know how to explain it, maybe it's Reddit or TikTok influencers recommending trades.

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