Report: trading volumes are falling, but bitcoin volatility is growing



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Report: trading volumes are falling, but bitcoin volatility is growing

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Arcane Research analysts found that since November last year, Bitcoin trading volumes have been steadily declining. This was reported in the latest report of the company.

The chart below shows the dynamics of trading volumes on exchanges from the Bitwise 10 rating:

A series of lowering highs is visible, indicating a downward trend in trading activity. For example, on January 22, trading volume on exchanges from Bitwise 10 amounted to only $ 306 million – this is the lowest figure in the last few weeks.

Against the background of a decline in volumes, the volatility growth trend, which began in December, continues:

Analysts also note a sharp jump in BTC physical delivery volumes on the Bakkt futures platform. This, experts are sure, indicates a “rise in appetite” for bitcoin among institutional groups.

Among other things, the researchers noted an exponential increase in search queries for the phrase ‘Bitcoin Halving’:

However, the hype around the expected halving of the block reward in May is not the same as it was in 2016 on the eve of the last halving.

Analysts also note the contango on CME bitcoin futures – the price premium on this exchange is much higher than on unregulated sites like BitMEX, Deribit or FTX.

Higher quotes for derivatives contracts compared to the spot market may indicate optimism among major players.

However, on-chain activity is low – the volume of transactions is significantly lower than last spring-summer indicators:

Recently, the dynamics of active addresses paid to miners of commissions and the total amount of transferred value through bitcoin transactions have slightly decreased.

Arcane Research analysts previously noted an increasing correlation of bitcoin and gold.

Report: trading volumes are falling, but bitcoin volatility is growing



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