BTC Trading Volume on an Upsurge, Surpassing 2021 Bull Market

BTC Trading Volume on an Upsurge, Surpassing 2021 Bull Market

Bitcoin (BTC) has experienced a significant surge in trading volume from January to August this year, surpassing the levels seen during the bull market in 2021. According to data from Kaiko, a cryptocurrency research firm, the cumulative trading volume of BTC during this period amounted to US$2.87 trillion. This represents a substantial increase of 20% compared to the same period in 2021, when the cryptocurrency market was characterized by a prolonged bull run. The increase in trading volume is attributed to several factors, including heightened volatility in the cryptocurrency market and broader macroeconomic uncertainties. Notably, Bitcoin's volatility spiked in April 2022, primarily driven by the expansion of BTC spot ETF inflows in the United States, expectations of a Federal Reserve rate cut, and Bitcoin's突破of US$70,000. More recently, concerns about a potential recession in the United States and the unwinding of yen carry trades have further contributed to increased volatility. The surge in trading volume is indicative of growing market participation amidst the current market conditions. Investors and traders are actively engaging with BTC, seeking to capitalize on price movements and hedge against potential risks. The sustained high trading volume suggests that Bitcoin remains a popular and actively traded asset, despite the recent market downturns.