{"id":475351,"date":"2021-11-03T23:00:42","date_gmt":"2021-11-03T23:00:42","guid":{"rendered":"https:\/\/uniquehot.com\/?p=475351"},"modified":"2024-06-11T14:00:01","modified_gmt":"2024-06-11T14:00:01","slug":"fomo-beware-spot-bitcoin-buying-volume-remains-low-despite-new-ath","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/fomo-beware-spot-bitcoin-buying-volume-remains-low-despite-new-ath\/","title":{"rendered":"FOMO Beware: Spot Bitcoin Buying Volume Remains Low, Despite New ATH"},"content":{"rendered":"

Bitcoin has maintained high prices well into the first week of November. The month is expected to follow bullish trends that were triggered in the previous month and bitcoin has not been disappointed in this regard. However, some metrics remain low compare to the price of BTC. This could be as a result of investors taking profit in the market but low enough to draw attention to them.<\/p>\n

BTC had seen a lot of investment pour into it the week after the first ETFs went live. The record-breaking $1.4 billion inflow for the week had pushed the price of the digital asset towards a new all-time high. Yet, subsequent weeks have not fared as well in the market. One of the ways this decreased inflow has shone through has been spot trading volumes for the asset.<\/p>\n

Related Reading |\u00a0PayPal Co-Founder Says Bitcoin Price Points To Crisis In The Economy<\/a><\/strong><\/em><\/p>\n

Bitcoin Spot Trading Low<\/h2>\n

In comparison to the current price of the digital asset, spot trading volumes are expected to go up in tandem with the price hike. This has not been the case. Spot trading volumes for the week are down compared to the previous week. The 7-day trading average for the digital asset shows a significant downtrend in the same time period. An almost $1 billion decrease saw the 7-day average real trading volume for the asset drop to $6 billion.<\/p>\n

\"Chart<\/p>\n

BTC spot trading volumes remain low | Source: Arcane Research<\/a><\/pre>\n
The last time BTC was this high, spot trading volumes were significantly higher. The Spring rally saw spot volumes go up along with the price of bitcoin, driving the price higher in that regard. This time, trading volumes have continuously decreased despite the price of the digital asset hitting a new all-time on October 20th.<\/p>\n
Spot trading volumes are crucial to the performance of the asset in the market. If the market is to see BTC challenge a new all-time high, it is expected that spot trading volumes would need to go up to accommodate for this increase. Otherwise, momentum in the asset may slow to a crawl, causing the value to stagger downwards in the meantime.<\/p>\n
\"Bitcoin<\/p>\n
BTC price falls to $61K | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
BTC Futures Premium Decline<\/h2>\n
Bitcoin futures premium saw a significant uptick in October with the release of the ETFs that brought strong institutional demand into the market. The momentum was maintained for the better part of a week. However, the market is beginning to see a substantial decline in demand.<\/p>\n
Related Reading |\u00a0Bitcoin ETF Inflows Slow Down As Altcoins Interest Rebound<\/a><\/strong><\/em><\/p>\n
Futures premiums on CME saw a decline back to early October levels. Increased cash-and-carry activities in the CME Futures are speculated to be the main driver behind this decline. Still, it is a clear indication that institutional interest took a sharp downturn after the ETFs record opening in October.<\/p>\n
\"Chart<\/p>\n
Interest in BTC Futures decline after launch week | Source: Arcane Research<\/a><\/pre>\n
Open interest on CME has also recorded a decline. But this has not been the case across all open interest platforms. Open interest on top cryptocurrency exchange Binance has seen growing interest. Cash-and-carry activities indicate traders are increasing their exposure. Although some traders who had long exposure on CME had seen gains by the close of last month.<\/p>\n
Featured image from CNBC, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has maintained high prices well into the first week of November. The month is expected to follow bullish trends that were triggered in the previous month and bitcoin has not been disappointed in this regard. However, some metrics remain low compare to the price of BTC. This could be as a result of investors taking profit in the market but low enough to draw attention to them. BTC had seen a lot of investment pour into it the week after the first ETFs went live. The record-breaking $1.4 billion inflow for the week had pushed the price of the digital asset towards a new all-time high. Yet, subsequent weeks have not fared as well in the market. One of the ways this decreased inflow has shone through has been spot trading volumes for the asset. Related Reading |\u00a0PayPal Co-Founder Says Bitcoin Price Points To Crisis In The Economy Bitcoin Spot Trading Low In comparison to the current price of the digital asset, spot trading volumes are expected to go up in tandem with the price hike. This has not been the case. Spot trading volumes for the week are down compared to the previous week. The 7-day trading average for the digital asset shows a significant downtrend in the same time period. An almost $1 billion decrease saw the 7-day average real trading volume for the asset drop to $6 billion. BTC spot trading volumes remain low | Source: Arcane Research The last time BTC was this high, spot trading volumes were significantly higher. The Spring rally saw spot volumes go up along with the price of bitcoin, driving the price higher in that regard. This time, trading volumes have continuously decreased despite the price of the digital asset hitting a new all-time on October 20th. Spot trading volumes are crucial to the performance of the asset in the market. If the market is to see BTC challenge a new all-time high, it is expected that spot trading volumes would need to go up to accommodate for this increase. Otherwise, momentum in the asset may slow to a crawl, causing the value to stagger downwards in the meantime. BTC price falls to $61K | Source: BTCUSD on TradingView.com BTC Futures Premium Decline Bitcoin futures premium saw a significant uptick in October with the release of the ETFs that brought strong institutional demand into the market. The momentum was maintained for the better part of a week. However, the market is beginning to see a substantial decline in demand. Related Reading |\u00a0Bitcoin ETF Inflows Slow Down As Altcoins Interest Rebound Futures premiums on CME saw a decline back to early October levels. Increased cash-and-carry activities in the CME Futures are speculated to be the main driver behind this decline. Still, it is a clear indication that institutional interest took a sharp downturn after the ETFs record opening in October. Interest in BTC Futures decline after launch week | Source: Arcane Research Open interest on CME has also recorded a decline. But this has not been the case across all open interest platforms. Open interest on top cryptocurrency exchange Binance has seen growing interest. Cash-and-carry activities indicate traders are increasing their exposure. Although some traders who had long exposure on CME had seen gains by the close of last month. Featured image from CNBC, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":475357,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84587,768,1119,84589,84588],"class_list":["post-475351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-spot-volumes","tag-bitcoin-trading","tag-btc","tag-spot-volumes","tag-trading-volumes"],"acf":[],"yoast_head":"\nFOMO Beware: Spot Bitcoin Buying Volume Remains Low, Despite New ATH<\/title>\n<meta name=\"description\" content=\"Bitcoin has maintained high prices well into the first week of November. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"FOMO Beware: Spot Bitcoin Buying Volume Remains Low, Despite New ATH","url":"http:\/\/uniquehot.com\/news\/fomo-beware-spot-bitcoin-buying-volume-remains-low-despite-new-ath\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/fomo-beware-spot-bitcoin-buying-volume-remains-low-despite-new-ath\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/11\/BTC-scaled.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/11\/BTC-scaled.jpeg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin spot volumes","bitcoin trading","btc","spot volumes","trading volumes"],"dateCreated":"2021-11-03T23:00:42Z","datePublished":"2021-11-03T23:00:42Z","dateModified":"2024-06-11T14:00:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"FOMO Beware: Spot Bitcoin Buying Volume Remains Low, Despite New ATH\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/fomo-beware-spot-bitcoin-buying-volume-remains-low-despite-new-ath\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/fomo-beware-spot-bitcoin-buying-volume-remains-low-despite-new-ath\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/11\\\/BTC-scaled.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/11\\\/BTC-scaled.jpeg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin spot volumes\",\"bitcoin trading\",\"btc\",\"spot volumes\",\"trading volumes\"],\"dateCreated\":\"2021-11-03T23:00:42Z\",\"datePublished\":\"2021-11-03T23:00:42Z\",\"dateModified\":\"2024-06-11T14:00:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/11\/BTC-scaled.jpeg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/475351"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=475351"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/475351\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/475357"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=475351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=475351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=475351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}