Data: Bitcoin Enjoying Great Market Interest Despite Crash

The world's first cryptocurrency, Bitcoin BTC/USD, is seeing great interest from market participants, as clearly shown by market data.

What Happened: Bitcoin's perpetual futures contract 24-hour volume reached a 2-year high of $13,044 million, according to a Tuesday tweet by Glassnode Alerts — the Twitter profile sharing on-chain trends of blockchain data firm Glassnode. The previous high of $13,041 million was reported on May 20, 2021.

See Also: How To Buy Bitcoin (BTC)

The news follows El Salvador's president Nayib Bukele deciding to buy the Bitcoin dip and acquire 500 BTC, with Tron TRX/USD founder Justin Sun following in his footsteps — his decentralized autonomous organization (DAO) reserve bought another 500 BTC. 

According to Monday reports, Bitcoin is also seeing fewer balances currently in profit, which is a counterintuitively bullish sign.

See Also: How To Earn Free Crypto

Price Action: As of press time, Bitcoin was trading nearly flat at $30,837.40 after seeing its price fall by about 2.56% over the last 24 hours.

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Posted In: BitcoinJustin SunNayib BukeleCryptocurrencyNewsMarkets