bitcoin volume exceeded $11 billion in 24 hours observation from last year April. We can say almost one year. However, we can't see much effect on price although there was little pump. But April 2018 bitcoin was traded approx $8K but currently trading approx $4K. Is it sign of bull run ?
Am a strong believer of bitcoin and I know sometime soon, it's price will rise again the 24-hour volume rise is not conclusive enough.
We very well know that late last year and early this there, there was this exchange ICO trend. There are currently lots of shitty exchanges out there doing wash trading so that they can seem have very many active traders thereby leading to an exaggerated BTC volume lately.
That's why the 24-hour volume could be past $11 Billion but nowhere near $8K