Bitcoin hits new record high in one day as spot and futures trading volume surges

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Binance Spot Trading Volume Reaches 207.2250 Trillion Won US CME Futures Trading Volume Reaches 280.4445 Trillion Won BTC Recorded at $119,444 at 3:11 AM on the 23rd Experts Warn: "Pay Attention to Scattered Open Interest"

비트코인, 현물·선물 거래량 급등에 하루 만에 신고가 재경신
Bitcoin (BTC) recorded a new high within a day, reaching $119,444 at around 3 AM on the 23rd, amid a surge in spot and futures trading volume on cryptocurrency exchanges.

Bitcoin continued its upward trend after setting new highs on the 22nd. As Bitcoin surpassed $112,000, investors' enthusiasm for Bitcoin heated up.

According to data from cryptocurrency market data provider CoinMarketCap, the daily spot trading volume of the world's largest cryptocurrency exchange Binance reached $1.5 billion (approximately 207.2250 trillion won) on the 23rd. According to data from on-chain analysis platform Glassnode, the Bitcoin futures trading volume on the Chicago Mercantile Exchange (CME) reached $20.3 billion (approximately 280.4445 trillion won) on the 23rd, reaching the third-highest trading volume in 2025.

The US Bitcoin spot ETF also contributed to this. Greg Magadini, head of derivatives at on-chain data platform Amberdata, explained, "The open interest amount through BlackRock's 'IBIT' remains at $20 billion (approximately 27.6300 trillion won)."

Experts advise caution regarding price volatility due to high open interest.

Decrypt, a cryptocurrency-specialized media outlet, explained, "The accumulated open interest in the futures market indicates that investors are betting on price movements using leverage, which means significant price volatility can occur in either direction."

Reporter Seung-won Kwon ksw@blockstreet.co.kr

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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