Bitcoin Price Spikes to $138k on Binance

According to exchange statistics, Bitcoin briefly reached $138,000 on Binance.US before falling back to parity with other bitcoin spot markets. The price spike occurred due to limited liquidity for Bitcoin against tether on Binance.

Market depth statistics indicate that a $400,000 bitcoin purchase on this trading pair can increase prices by 2%. The surge is unlikely to be the result of a trader looking to spend significantly more for bitcoin, as it is currently trading for just over $29,000.

Bitcoin’s recent price gains can be attributed to increased institutional investment and the flurry of spot Bitcoin ETF applications from traditional financial players.

MicroStrategy, which holds around 140,000 Bitcoins, has seen its BTC holdings worth more than $4.2 billion. Read more for further details on Bitcoin’s recent developments, including market analysis and predictions.

Location: United States

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