Bitcoin Spot to Derivatives Volumes at 2-year high: What does it mean?
The crypto markets did witness some form of an “Uptober” towards the end of last month. However, Arcane Research pointed out that Bitcoin (BTC), the original crypto, grew by only 5.89%. The Bitcoin spot market in October was supported by higher volume and less volatility, while also gaining from a short squeeze that gave the market a small boost. Although the short squeeze provided a much-needed push, it did little to substantially change BTC’s price. The last week of October had the most cryptocurrency short sales since July 26, 2021, according to Arcane Research. The 30-day volatility index is at a two-year low, and BTC spot volume has increased by 46% over the past seven days. Additionally, compared to the yearly average of 3%, the seven-day volatility index is currently lying at 2.2%. Source: Arcane Research Cryptoquant co-founder and CEO, Ki Young Ju, noted that Bitcoin’s (BTC) spot trading volume to derivative has reached a two -year high . Ju ...