I found a new chart to watch, that breaks up the candles by exchange.
https://data.bitcoinity.org/markets/volume/30d?c=e&t=b
All Time: Now this is interesting and not what I expected at all. Peaking Volume on okcoin (70.7m on Feb 29 2016), huobi (54m on Oct 31 2016) and btcchina (61m on Nov30 2016).
https://data.bitcoinity.org/markets/volume/all?c=e&t=b
Way smaller than I expected. Top right option set candle period (week)
Top left is Time scale (5 years), which shows how little exchange volume there is.
207,000 BTC traded on Kraken, on May 16 2021?
Or 440,000 BTC traded on CoinBase on Nov 6th 2022?
This is a particular type of data, what can it tell us about today?
The absurdly low volume of BTC being traded on exchanges today is revealed when the chart is set to 3 days is clear. On bitfinex (1560 BTC vol), bitstamp (4610 BTC vol), and kraken (1100 BTC vol).
https://data.bitcoinity.org/markets/volume/3d?c=e&r=day&t=b
Not all exchanges are listed on Bitcoinity, but it still gives us some interesting tools.
https://data.bitcoinity.org/markets/books/USD
Click around the site a bit and show me what you find!
Learn all you can, every day!
Sounds interesting but I don’t really get your message. 🤔
Remember, when someone sells BTC, someone else is buying it. Sell orders are also buy orders — that was my first point, especially with the meme in mind.
Secondly, I was reviewing on-chain data aggregated from a new website I hadn’t seen before. The data shows that the actual amount of BTC being traded is quite small. According to CoinGecko, Kraken only traded about ₿3,806 against USD and ₿845 against EUR. There may be millions of Bitcoins in existence, but far fewer are actually usable — and even fewer are available on exchanges.
OTC is King 🤷🏼♂️
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