Bitcoin Daily Trading Volume Surges to $46 Billion, Fifth-Largest in History

Bitcoin’s daily trading volume soared past $46 billion, marking the fifth-highest daily total in the cryptocurrency’s history, according to FalconX research head David Lawant.

On January 20, Lawant shared on X (formerly Twitter) that Bitcoin spot trading volume had surpassed $46 billion, stating, “This is the largest daily volume ever recorded on a holiday or weekend.” The metric was calculated using the 7-day moving average of trading volumes on reputable exchanges such as Binance and Coinbase.

The surge coincided with President Donald Trump’s inauguration as the 47th U.S. President and the closure of U.S. stock markets for Martin Luther King Jr. Day. Bitcoin reached a high of $109,300 ahead of the inauguration but retreated to approximately $100,000 following the event.

Market enthusiasm around potential crypto-friendly policies, such as prioritizing cryptocurrency at the national level and establishing a Bitcoin reserve, had driven prices higher. However, the lack of any cryptocurrency-related mentions during Trump’s inauguration speech led to a “sell the news” reaction, resulting in a market correction.

As of 3:50 PM on January 21, Bitcoin was trading at $101,300, down 4% from the previous day.

CoinGlass reported that $307.3 million in Bitcoin leverage positions were liquidated over the past 24 hours, reflecting the heightened volatility.