The bitcoin market hit a new all-time high at $40k on 7 January keeping up with its ‘new-day, new- peak’ motto. As traders saw this new price of the world’s largest crypto, it resulted in large scale activity in the derivatives market.

Following the market frenzy on Thursday, BTC futures volume hit a peak at $100 billion. According to market data provider Skew, this value was never seen before and has been noting a volume above $75 billion for most of the new year – 2021.

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