Bitcoin

Spot

Trillion

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 <p>The BTC Volatility Index’s reading has been hovering around its lowest point since 2021. This index measures the implied volatility of the largest crypto asset. Simplistically, it gauges the view on volatility perceived by Bitcoin traders for the next 30 days. The current state of this metric points out that traders expect the current impassive state of affairs to prolong.</p> 
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  <img decoding="async" width="1024" height="217" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="" class="wp-image-105263 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp.webp 800w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp.webp 1131w" data-srcset-img="https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 1024w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 800w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 1131w" data-eio="j"> 
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   <img decoding="async" width="1024" height="217" src="https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp" alt="" class="wp-image-105263" srcset="https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 1024w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 800w, https://cdn.thebittimes.com/images/2023/08/04/f893185947d780e6056a9dd1291c344c.webp 1131w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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  <figcaption class="wp-element-caption">
    Source: The Block 
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 <p>Amid the lackluster conditions, centralized exchanges have recorded the second-lowest volume since 2021. According to a recent research report by&nbsp;CCData, </p> 
 <p><strong>“The combined <a rel="noopener noreferrer nofollow" title="Spot" href="https://thebittimes.com/tag/spot.html">Spot</a> and derivatives trading volume fell 12% to $2.36 trillion. This was the second-lowest combined volume on centralized exchanges since December 2020, only eclipsed only by December 2022.”</strong></p> 
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 <p>As far as the breakdown is concerned, <a rel="noopener noreferrer nofollow" title="Spot" href="https://thebittimes.com/tag/spot.html">Spot</a> trading volumes on CEXes dropped by 10.5% to $515 billion, the second-lowest volume recorded since March 2019. Meanwhile, derivatives volumes shrunk by 12.7% to $1.85 trillion, recording the second-lowest volume since December 2020.</p> 
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 <h3 class="wp-block-heading" id="h-cme-bitcoin-options-volume-rises-24">CME Bitcoin Options Volume Rises 24%</h3> 
 <p>The aggregate derivatives trading volume on the CME fell by 17% to $40.1 billion in July. The futures volume figure on the exchange was in tandem with the broader market trend. BTC and ETH futures volume tumbled to $31.3 billion and $7.24 billion respectively. Bitcoin’s overall Estimated Leverage Ratio, however, has been on the rise since the end of April. This means, traders have been undertaking high-leverage trades lately.</p> 
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  <img decoding="async" loading="lazy" width="1023" height="516" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="" class="wp-image-105267 ewww_webp" sizes="(max-width: 1023px) 100vw, 1023px" data-src-img="https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp.webp 1023w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp.webp 800w" data-srcset-img="https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 1023w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 800w" data-eio="j"> 
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   <img decoding="async" loading="lazy" width="1023" height="516" src="https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp" alt="" class="wp-image-105267" srcset="https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 1023w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 768w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 550w, https://cdn.thebittimes.com/images/2023/08/04/87b8fb93c4e5d07141cd235ddc0fae15.webp 800w" sizes="(max-width: 1023px) 100vw, 1023px"> 
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  <figcaption class="wp-element-caption">
    Source: CryptoQuant 
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 </figure> 
 <p>Even though the <a rel="noopener noreferrer nofollow" title="futures" href="https://thebittimes.com/tag/futures.html">futures</a> volume fell on <a rel="noopener noreferrer nofollow" title="CME" href="https://thebittimes.com/tag/cme.html">CME</a>, the <a rel="noopener noreferrer nofollow" title="options" href="https://thebittimes.com/tag/options.html">options</a> data painted a different picture. This niche’s volume on the exchange rose 24% to $940 million, recording the first hike in four months. The BTC <a rel="noopener noreferrer nofollow" title="options" href="https://thebittimes.com/tag/options.html">options</a> traded on the exchange rose 16.6%, while ETH <a rel="noopener noreferrer nofollow" title="options" href="https://thebittimes.com/tag/options.html">options</a> saw trading volumes rise 60%. As uncertainty continues to persist in the market, this might mean that institutions are hedging their positions with <a rel="noopener noreferrer nofollow" title="options" href="https://thebittimes.com/tag/options.html">options</a>. When viewed from the other perspective, it also points towards the “increased” institutional interest in the market.</p> 
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  <img decoding="async" loading="lazy" width="695" height="287" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="" class="wp-image-105270 ewww_webp" sizes="(max-width: 695px) 100vw, 695px" data-src-img="https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp.webp 695w, https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp.webp 550w" data-srcset-img="https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp 695w, https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp 550w" data-eio="j"> 
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   <img decoding="async" loading="lazy" width="695" height="287" src="https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp" alt="" class="wp-image-105270" srcset="https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp 695w, https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp 300w, https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp 380w, https://cdn.thebittimes.com/images/2023/08/04/b8aa37270572075b8e817c12f9237942.webp 550w" sizes="(max-width: 695px) 100vw, 695px"> 
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  <figcaption class="wp-element-caption">
    Source: CCData 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>bitcoin</li> 
  <li>CME</li> 
  <li>crypto</li> 
  <li>ethereum</li> 
  <li>futures</li> 
  <li>leverage</li> 
  <li>options</li> 
  <li>Spot</li> 
 </ul> 
</div>

Crypto Volume on Exchanges Dropped 12% to $2.6 Trillion

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