A look at exchange activity surrounding Friday's BTC price spike

Marking one of the most volatile days in Bitcoin's history, Bitcoin prices soared on Friday from $7,500 to just above $10,400. Many have speculated that Chinese President Xi Jinping’s bullish comments on blockchain technology as the reason for the jump. However, exchange trading volume suggests that perhaps some large players in the futures market may be pulling the strings.

On Friday, there were two notable bitcoin price jumps. One around 3:46 p.m. UTC (10:46 a.m. EST) and the other at around 12:30 p.m. UTC (7:30 p.m. EST).