Demand Spike on Binance Played Key Role in Bitcoin Rally: Kaiko

Individual trade data on Binance also shows that the average bitcoin trade size rose to $2,500 from $2,000 between Oct. 8 and Oct. 13, a multi-month high. On Oct. 10, as buy orders on Binance exceeded sell orders between 2:00 UTC and 5:00 UTC, bitcoin’s price went up to around $56,000 from $54,000.

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