Bitcoin Price Above $10K Sees ‘Strange’ Premium After $1M BTC Buys

A frenzied period for major exchanges produces unusual phenomena and huge volumes, while Coinbase bows out.

Bitcoin (BTC) hitting $10,000 has been frantic activity on exchanges — investors are buying the largest cryptocurrency at five figures, not selling.

According to data from monitoring resource Coin Metrics on June 2, one 10-minute period alone saw trading volume hit a giant 3,500 BTC.

“Peculiar” BTC price action sparks volume surge

As markets climbed to highs of $10,340, exchanges saw a sudden surge of interest, with Bitfinex specifically producing what Coin Metrics described as “very strange” behavior.

“#Bitcoin prices on Bitfinex just did something very strange and are now trading at a $40 premium to the rest of the market,” the company tweeted.

Reference: https://cointelegraph.com/news/bitcoin-price-above-10k-sees-strange-premium-after-1m-btc-buys?utm_source=coinmarketcap&utm_medium=referral

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Author: Carol Danvers

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