Bitcoin Soars 11% to $89,500 as Trading Volume Hits Record $38 Billion

On November 12th, COINOTAG News reported a significant price **surge** in **Bitcoin**, which rose by 11% to **$89,500**. This surge catalyzed an unprecedented daily trading volume of **$38 billion** across major platforms, including the U.S. Bitcoin spot ETF, **MicroStrategy Inc (MSTR)**, and **Coinbase Global Inc (COIN)**. According to **Bloomberg** ETF analyst **Eric Balchunas**, this trading volume has dramatically exceeded the previous record of approximately **$250 million** set in March. Balchunas noted, “Multiple data points are hitting all-time highs,” highlighting that the trading volume for Blackrock’s iBIT ETF reached **$4.5 billion**, suggesting robust investor interest. As these trends continue, the market demonstrates a formidable appetite for **cryptocurrency** investments, indicative of the evolving financial landscape.