Bitcoin Futures Trading Breach $3Trillion Mark in 2020
2020–08–13
After the slowest month in 2020, August is shaping up to have massive trading volumes as volatility takes an upswing and Bitcoin settles between the $11–12k band. Bitcoin did stay within the $9–10k band for nearly two months earlier this year between May and July.
But most noteworthy is the total traded volume across major futures exchanges (including CME & Bakkt) that has broke the $3 Trillion mark for 2020. Already, this is nearly $750mn more than all of 2019 combined.
Bitcoin Futures Open-Interest has held well above the $5bn mark for all of August. This brings trading back to level just before global markets took a turn from the COVID-19 pandemic.
Despite the massive trading volume and outstanding interest, daily average of hourly volatility has fallen back below the 2020 average. As has 8-hour volatility peak (see charts below)
