So like, the BTC trade volume just hit over $330 billion today. That's nuts! I've never seen it this high in a while. Anyone got thoughts on what’s causing this spike?
What's up with the crazy trade volume?
6 replies 384 views
When hackers launder money on an exchange, they usually move the same funds around multiple times. Then, regular traders notice price changes and jump in for arbitrage. Like flipping between market pairs ETH to BTC to USD and back. It's messy but it leads to volume.
Could be time zone effects too. I mean, the volume seems ordinary during these dips. Today’s at $69.25 billion and yesterday was $64.6 billion. A couple days back it was $92.1 billion, so it fluctuates a lot.
Honestly, gotta take the volume numbers with a grain of salt. With all the centralized exchanges in control, it’s not the best metric. If we relied on decentralized exchanges, then maybe we’d have more reliable data.
falcon_satFull Member
Posts: 31 · Reputation: 312
#5Nov 1, 2021, 10:33 AM
Right? It’s about liquidity too. Prices dropping below $80k means sellers are moving more. But yeah, volume doesn’t always reflect the trends well. Just shows there’s action, mostly from sellers right now.
chris_maxiNewbie
Posts: 85 · Reputation: 36
#6Nov 1, 2021, 03:37 PM
People are losing it. Just check out social media, everyone’s got their own predictions about Bitcoin’s price. It’s chaos. Some are offloading their holdings, while others are doubling down. Every time the market wobbles, volume spikes. Limit orders getting filled like crazy.
I see the volume spike but I’m not stressing. This has been the trend for a while up and down. Panicking leads to selling low. This volume might signal potential changes, but who knows where it’ll go next.