Data shows the Bitcoin spot trading volume has shot up recently, and has created a new high for the year 2022 so far.
Bitcoin Spot Trading Volume Observes Sharp Uptrend
As per the latest weekly report from Arcane Research, the 7-day average BTC volume has now hit a new yearly high of around $11.4 billion.
The “spot trading volume” is an indicator that measures the total amount of Bitcoin being transacted on spot exchanges on any given day.
When the value of this metric is high, it means a large number of coins are observing movement in the spot markets. Such a trend shows investors are active at the moment.
On the other hand, low values of the indicator suggest there isn’t much activity happening on exchanges right now. This kind of trend may be a sign that investor interest around the crypto is low currently.
Now, here is a chart that shows the trend in the 7-day moving average Bitcoin spot trading volume over the past year:
The 7-day MA value of the metric seems to have sharply risen up in recent days Source: BTCUSD on TradingViewFeatured image from André François McKenzie on Unsplash.com, charts from TradingView.com, Arcane Research
Tags: BinancebitcoinBitcoin Spot Trading Volumebitcoin trading volumebtcbtcusd
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