Low Volumes Across Crypto Spot Markets and Derivatives Indicate Bearish Conditions …

Digital currency markets have slipped significantly in value during the last two weeks and the lower prices have not sparked higher trade volumes.

When crypto markets shed significant value, traders typically look to see if trade volume increases in order to support the current prices.

Even though November’s spot market volume was larger than December’s and the three weeks of January, the $2.23 trillion in volume recorded in May 2021 was double the size.

On November 2, 2021, $53.27 billion was settled that day, while data from January 22, 2022, shows $24.65 billion.

When BTC tapped an all-time price high on November 10, 2021, the following day $28 billion in bitcoin futures open interest was recorded.

Aggregated open interest and volumes tied to bitcoin options have also dropped month-over-month for the last two months.

For the most part, the low volumes across crypto spot markets and derivatives have affected the crypto economy negatively.

Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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