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Bitcoin Price Breaks $400 Amid 12% Surge
The price of bitcoin has surpassed the $400 mark today for the first time since November 2014.
Updated Sep 14, 2021, 2:00 p.m. Published Nov 3, 2015, 5:26 p.m.
The price of bitcoin shot past the $400 mark today for the first time since November 2014.
According to CoinDesk's USD Bitcoin Price Index (BPI), bitcoin opened the day at $359.35 before increasing over 11% to $403.30 at 17:15pm (UTC). It has since decreased to $401.79 at press time.
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The digital currency began the year hovering slightly over $300, before dropping below the $200 mark to $177.28 on 14th January.
Today's peak price marks a yearly high for bitcoin, which is represents a 10.7% increase in value from its price on 3rd November last year, when it closed the day's trading at $363.31.
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However, bitcoin's price today marks a stark contrast to its value in November 2013, when it peaked at an all-time high of $1165.89.
It is difficult to determine the specific reasons as to why the price of bitcoin is currently trending upwards, but industry observers recently told CoinDesk that it may be related to China's tightening of capital controls and a series of positive news for the industry; including the EU's VAT ruling.
Hot air balloon image via Shutterstock.
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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