Bitcoin Trading Volume During Four Market Crashes Suggest Sellers Are Giving Up
Although the price of bitcoin (BTC) is down by almost 50% from its all-time high in November, and the latest market crash undoubtedly has been felt by BTC holders, an analysis of trading volumes during recent crashes suggest fewer coins are being sold this time around than during the sharp selloff in May and November last year.
Judging from a TradingView indicator known as ‘Bitcoin Real Volume,’ only about half the USD volume was seen during the week with the most intense selling pressure in November 2021, compared to in May the same year. Meanwhile, the selling happening during the worst week for bitcoin in January this year saw even lower volumes, the data showed.
The indicator includes bitcoin trading volume against both the US dollar and a number of USD-pegged stablecoins across a handful of the largest crypto exchanges.
According to the indicator, bitcoin trading volume for the week of the market crash in March 2020 came in at USD 63.2bn, in May 2021 at USD 200.4bn, in November 2021 at USD 103.6bn, and most recently in January 2022 at just USD 78.7bn.
'Bitcoin Real Volume' during four market crashes:
The same general trend was also reflected in Blockchain.com’s volume indicator, which tracks bitcoin trading volumes from selected exchanges. Looking at this indicator, we see volume spikes in March 2020, May 2021, November 2021, and January 2022, which all correspond to market selloffs in those months.
As with the previous indicator, Blockchain.com’s data also shows that May 2021 saw the most intense selling in terms of exchange trading volume, with the selloffs in November 2021 and January 2022 each becoming smaller than the prior crash.
Bitcoin trading volume on selected exchanges, per Blockchain.com:
Similarly, volume data
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