The daily trading volume of IBIT broke 10 billion US dollars, setting a historical record, yet the stock price plummeted by 13%
On February 6, according to Bloomberg's senior ETF analyst Eric Balchunas, the Bitcoin spot ETF (code: IBIT) under BlackRock reached a historical high in trading volume yesterday, totaling 10.057 billion US dollars, but was accompanied by a 13% drop in its stock price, marking the second-largest single-day decline since the product's launch.
This rare market transaction phenomenon essentially represents a fierce clash between "panic selling" and "buying on the dip". One side consists of holders fleeing in panic as prices crash, while the other side attempts to capture the "bottom" with significant buying power.
It is this intense confrontation between the two forces that has pushed market divergence to a boiling point, ultimately resulting in a record-breaking daily trading volume and a massive exchange of shares.
Chart data shows that this trading volume not only far exceeds its historical daily average level of 2.228 billion US dollars but has even surpassed all peaks since the product's launch in February 2024.
Analyst Eric Balchunas described this market performance as "brutal," accurately depicting the extreme volatility of current crypto market sentiment and the intensity of the bull-bear battle.
This move has also prompted the community to deeply examine market sentiment and potential risks. Some observers question whether such a massive trading volume might indicate structural issues within the market or suggest that large institutions are utilizing extreme volatility for complex strategic operations.
Regardless, the market has once again confirmed the high-risk nature of the cryptocurrency market in an extreme manner. It also reminds investors that massive trading volume does not equate to a simple bullish signal; rather, the complex and often divergent relationship between price and volume behind it is the core that investors must penetrate through the surface and deeply understand.
