Massive Volume Pushes Bitcoin Briefly Above $22,500: Here’s Why There’s A Spike In Activity

After being in the red for over a month, the largest digital currency by market capitalization, Bitcoin (CRYPTO: BTC), has pared some of its losses and is trading up about 12% higher over the past week, making a brief high of $22,527 along with a spurt in volumes on July 8, before settling back to around $21,700 levels. Experts caution the unexpected price uptick as a “one-off event” that is most likely a reaction to crypto exchange Binance’s decision to eliminate fees on BTC spot trading, and that it in no way signals a price reversal.