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Bitcoin Inches Above $2,800 to Hit 5-Day High
The price of bitcoin is edging up, though it could be in advance of volatility ahead of a possible network development.
By Pete Rizzo
Updated Sep 14, 2021, 1:57 p.m. Published Jul 28, 2017, 12:25 p.m.
The price of bitcoin across global exchanges hit $2,833 today, the highest figure observed since July 23.
The five-day high comes amid what has been largely a week of stability in the price of the digital asset against the dollar. Bitcoin prices fell to a seven-day low of $2,433 on Wednesday, but have traded as high as $2,889 as recently as July 21.
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Still, the fluctuations come ahead of what could emerge as a turbulent time for the price.
While bitcoin's long-raging scaling debate may soon reach a conclusion of sorts (with the integration of the Segregated Witness now scheduled for early August), it's not going to be without twists.
For one, the cryptocurrency is about to see the first large-scale fork of its live blockchain, with some miners and businesses vowing to create a separate project called Bitcoin Cash.
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Already trading at $300 (though it hasn't been released), it's hard to say exactly how the move may impact prices.
Still, if the project does come to pass, those on either side of the debate may now be able to more easily move the market in their preferred direction, potentially leaving the door open for volatility ahead.
Markets image via Shutterstock
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
알아야 할 것:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
需要了解的:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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