Bitcoin’s trading volume in the spot market remains low despite the price increase

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By the end of October, Bitcoin soared in value by almost 40%. In early November, BTC was able to hold above $ 60,000, and many observers believe that a zone of strong support for the cryptocurrency has formed at this level.

On Friday, November 5, BTC is holding at $ 62,121. A survey by Arcane Research says that despite Bitcoin’s record highs in its history, the cryptocurrency trading volume in the spot market remains low.

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The trend could not break even the launch of the ETF crypto fund for bitcoin futures, analysts emphasized. The surge in activity was short-term in the middle of last month, but then the players began to leave the market again.

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Over the past two weeks, there has been a weakening in the activity of traders in the spot market. The average daily amount of transactions with BTC fell to $ 6 billion.

Thus, the correlation was broken, which the Arcane Research analysts themselves paid attention to in the first half of autumn. Recall that a study published in early October pointed to the dependence of the price and volume of cryptocurrency trading.

Now the cost is adding, but the activity of investors remains weak. The fall of premiums in the futures market to a four-week low also indicates a change in the vector and the transition of investors to a wait-and-see tactic.

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