Data shows the Bitcoin carnage has awakened the dead trading volume that had persisted since many months now.
Bitcoin Trading Volume Surges To Highest Value Since December
As per the latest weekly report from Arcane Research, the latest bloodbath in the crypto market has awakened BTC’s spot trading volume.
The “trading volume” is an indicator that measures the total amount of Bitcoin being moved on the chain on any given day.
When the value of this metric rises, it means the market is becoming more active as investors trade larger amounts of the crypto.
On the other hand, a downtrend in the indicator suggests the Bitcoin market activity is going down at the moment.
Historically, high trading volumes have made up for an ideal environment for pushing large price moves. This is because to sustain any such move, a large number of active traders are needed.
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