We Still Don’t Know Bitcoin’s Real Volume
CoinDesk Research analyst Galen Moore unpacks the differences in reported trading volumes from three major data aggregators.
Volume
Lower bitcoin spot volumes and flatter-than-usual price action doesn’t mean crypto traders have zero opportunities to capitalize.
After a flurry of trading late last week, bitcoin dipped on lower volume.
On a relatively new exchange like the Antigua-based FTX, the order book depth, as represented by the number of buy and sell orders at each price, now matches the depth seen on industry leader BitMEX.
Activity in the bitcoin options market picked up pace on Thursday, as spot prices jumped above key resistance over $7,000.
After weeks of elevated activity, trading volumes on spot bitcoin exchanges have subsided, boding well for some traders if not the venues themselves.
Volume
