According to data from Arcane Research, trading volumes of crypto exchanges have fallen to 40%. Are retail traders on the spot exchanges exhausted?
Crypto exchanges see big drop in volumes
The chart below shows rapid growth in the trading volumes on exchanges in BTC/USD pairs during October-November and a subsequent sharp drop in the indicator.
“Are retail traders on the spot exchanges exhausted, or did they just take a break before the upward movement of bitcoin?” The analysts asked.
Over several weeks, the seven-day Bitcoin price volatility indicator has also significantly decreased – from 5% to “usual” values in the range of 2-3%.
In early December, the correlation of Bitcoin with gold and other assets of the traditional market dropped significantly.
“2020 was characterized by high correlations between bitcoin, the stock market and other asset classes. However, over the past few months, the correlation of digital gold with the S&P 500 and gold has dropped significantly, ”the experts said.
Currently, the statistical relationship between Bitcoin and the “barometer of the American economy” is the lowest since the March collapse.
Recall that in the last decade of November, the spot volume of bitcoin trading has renewed its annual maximum.
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