Bitcoin Price Jumps 49% on Spot ETF Optimism While Trading Volumes Shift Across Exchanges
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Optimism around a bitcoin spot ETF approval drove a 49% BTC price gain since October. The SEC may approve or deny multiple applications at once.
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Four exchanges (Coinbase, Binance, Bybit, OKX) account for 65% of spot BTC trading volume. Binance has the largest share at 35.5%.
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Average BTC order sizes have decreased since early 2021, now around $1,652. This doesn't necessarily mean more retail trading.
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Coinbase Q3 data shows declining volume for both retail and institutional traders over the past year.
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CME Bitcoin futures open interest hit a 2022 high, with asset managers more bullish and leveraged funds more bearish. Institutional crypto participation continues growing.