Institutional short? Bitcoin plummeted and Bakkt trading reached new highs

According to BlockBeats, on November 22, Bakkt, a compliant bitcoin futures trading platform owned by ICE, saw 2,728 bitcoin transactions in a single day, with a total value of more than $20 million, surpassing the previous record of 1,756 bitcoin transactions in a single day. It was the biggest one-day trading volume since Bakkt was founded.

According to the data, Bakkt saw 1,756 bitcoins traded on November 9, the second largest volume in a single day, while the price of bitcoin plummeted 6 per cent on the day.

It is worth mentioning that since the Bakkt went online on September 23, bitcoin has been on a declining trend and Bakkt transactions have been increasing. BlockBeats has reported that on September 23 solstice on October 23, the total transaction value of Bakkt in one month was $20.22 million, only the current trading volume of Bakkt in one day.

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