Bitcoin Trading Level Drops to Lowest Level Since August

After the fall of the FTX exchange happened, the news about which still does not subside and does not leave the cryptocurrency market alone, bitcoin began to show high volatility. This means that most traders have started to actively sell and buy BTC. In addition, earlier we talked about the fact that many investors began to massively switch to storing currency in cold wallets, which was reflected in the mass withdrawals of BTC and cryptocurrency markets.

Due to the fact that most crypto enthusiasts were concerned about the issue of saving their funds and selling with buying bitcoin, the rate began to sag, but later it was able to eventually consolidate a little and gain a foothold above the $16,500 mark. Now the volatility has already fallen and traders have calmed down a bit, and as a result of such events, the main cryptocurrency does not show big fluctuations.

The level of trading has become so low that it has fallen to a record level since August of this year. The Kaiko publication reports that the last big spike in BTC volatility was observed on November 22. At that moment, the rate of the flagship cryptocurrency collapsed to $16,600+.

Another company, Arcane Research, confirms the belief that the number of trades has dropped significantly. According to them, the amount of transactions with bitcoin over the past week in the spot market was at its lowest level since August 2022. Thus, BTC turnovers were carried out in the amount of $2,000,000,000 (excluding Binance). On the main cryptocurrency exchange, all trades exceeded the $6,000,000,000 threshold. It is worth noting that in the first result with $2,000,000,000 received, 10 largest platforms were taken into account, except for Binance, which allow spot trading to work.

The peak of volatility intensified after the American cryptocurrency exchange FTX announced the start of the search for investors who will help them improve the liquidity of the site. As a result, Bitcoin fell from $21,250 to $16,000 in a short time. Not only bitcoin, but almost all altcoins turned out to be in the same state. Few of them managed to go against the bearish trend and sometimes break up for a short time. Nevertheless, there were such coins, and some of them belonged to the sector of non-fungible tokens.

Solana turned out to be the most long-suffering coins. Its value fell from $37.7 to $11.4, and at the same time, the token of one of the most interesting blockchains left the top ten cryptocurrencies with the highest level of total capitalization. At the time of writing, Solana has already corrected slightly and the cost of one coin is $14.70. The total capitalization of Solana exceeds the threshold of $5,300,000,000, which puts it in 14th place. It is separated from the top ten by such projects as Litecoin, DAI and Polkadot, whose total capitalization exceeds $5,600,000,000+, $5,700,000,000 and $6,100,000,000 respectively.