On November 21, trading volumes for Bitcoin-related stocks and ETFs in the United States reached a remarkable $70 billion, driven by a surge in Bitcoin's price above $98,300. This figure eclipsed the previous day's record of $55 billion, according to Bloomberg ETF analyst Eric Balchunas. MicroStrategy (MSTR) played a significant role in this trading frenzy, despite its shares plummeting over 25%, falling from a peak of $536.7 to $397.28 by market close. The trading volume spike coincided with Bitcoin achieving a new all-time high of $98,311, although it has since retraced slightly to $98,075, remaining close to the critical $100,000 mark. Balchunas termed the day's activities ‘BITSANITY’ due to the astonishing figures reported in the Bitcoin trading landscape.

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