Advertisement
AD

Main navigation

Here's Why This Bitcoin Bear Market Is Different, According to Leading Trading Firm

Advertisement
Tue, 18/10/2022 - 18:57
Here's Why This Bitcoin Bear Market Is Different, According to Leading Trading Firm
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Trading firm Cumberland has noted that massive trading volumes set this Bitcoin bear market cycle apart from previous ones, Bloomberg reports.

Advertisement

The firm noted that spot and derivatives and spot volumes typically reach a whopping $50 billion every day, which signals that the market remains extremely healthy despite the fact that the price of the largest cryptocurrency is down significantly from its 2021 peak.

Cumberland concluded that this time is really different since Bitcoin continues to see strong trading activity.

As reported by U.Today, the largest cryptocurrency remains on the ropes, currently trading below the $20,000 level. Bitcoin failed to recover despite the U.S. stock market’s two-day bullish streak.

Advertisement

As Bitcoin remains range-bound, its volatility has dropped to the lowest level of 2022.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD