The average 7-day BTC volume on the leading spot exchanges is now over $ 10 billion for the first time in Bitcoin early 2021 history. On January 7, 2021, the daily volume reached 13.8 billion USD ATH. This is 130% higher than the $ 6 Billion peak in December 2017, according to data from Arcane Research.

In addition to the financial industry being more likely to make crypto conversations, Bitcoin’s trading volume and open positions on the regulated exchange CME are also increasing. CME launched Bitcoin futures in mid-December 2017, followed by the crash.

 

Bitcoin 2021 rally seems to be stronger

However, there is an almost exponential increase in BTC futures volume in January 2021. With the environmental protection approach adopted by exchanges in Asia, India, the increase in trade volume in CME increases the sensitivity of the trader, ensuring that regulatory approval may soon be obtained. Although AssetDash ranks Bitcoin 7th on the list of best assets, the price rise and increased investment flow add to the asset-class digital gold narrative unlike 2017.

While Bitcoin’s 2017 rally is about selling and exiting at the right price point, it’s about HODLing. On Twitter, Scott Melker commented on how trading works and what Bitcoin’s current market is trading. This is the sentiment in spot exchanges, but individual traders may have stopped the frequency of day-to-day trading, but selling by traders is still going on.

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If this is the day traders expect, the current price increase is 180 degrees different from 2017. Institutionalization brings both volatility and maturity to the current Bitcoin market. Another interesting contrast between the two price rallies is open positions. Open positions have increased consistently with the price, although the leverage on the stock markets has declined. With each increase in price, several long and short positions are liquidated on BitMEX, but individual traders are opening more positions and the open interest rate (OI) is high.

The open position peaked at $ 10.5 Billion, and the best derivatives exchanges saw a drop of close to $ 8.5 Billion. In the ongoing price rally, there is a possibility that OI will surpass the previous $ 10.5 billion ATH. The 2021 price rally can be said to be statistically 130% bigger and better than the 2017 rally for a long time.

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