The recent crypto rally that propelled Bitcoin toward $35,000 is revitalizing the previously calm market, as daily exchange volumes reach their highest levels since spring.
According to The Block’s data dashboard, the seven-day moving average for spot exchange volumes across the market’s reputable platforms breached $24 billion on October 26. This level hasn’t been reached since the end of March.
The market has experienced more pronounced fluctuations compared to the summer as traders process headlines about the potential launch of a spot Bitcoin exchange-traded fund, which proponents believe will create new channels for capital influx. That’s lifted volatility to level not seen since April, The Block’s dashboard shows.