Bakkt volume seems to surge whenever the price of Bitcoin is at its most volatile. BeInCrypto has reported previously on growth in trading activity at the exchange as the Bitcoin price has experienced sudden drops or gains. As highlighted in earlier reports, volume surged around October 24 and 25 — which coincided with major gains for Bitcoin investors. The leading digital asset increased in price by 42 percent. The sudden increase has been largely attributed to Chinese President Xi Jinping formally endorsing blockchain technology at the end of last month. Earlier in November, new all-time highs in Bakkt trade volume accompanied sudden drops in the Bitcoin price, too. When Bitcoin first dropped below $9,000 in its most recent downtrend, Bakkt volume reached a then-new high of 1,756 Bitcoin, for example. Coinciding with this most recent all-time high is another sudden price move, this time to the upside. From a local low of just above $6,600 days ago, Bitcoin price has experienced a series of abrupt upwards movements. The price at the time of writing, thanks to these recent gains, is above $7,500.Daily summary of Wednesday's Bakkt Bitcoin Monthly Futures:
— Bakkt Volume Bot (@BakktBot) November 28, 2019
📈 Traded contracts: 5671 ($42.52 million, +148%) (New ATH 🚀)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $4.16 million (+6%)
Follow @BakktBot for updates – Sats welcome @ https://t.co/TF6sNUwWpO pic.twitter.com/wrX2qnLnOp
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