Bitcoin spot volumes surge 121% from August low, Glassnode says

  • Glassnode reports a strong rebound in Bitcoin spot-market activity.
  • Exchange spot volume rose 121% from its August low, with Gate's share increasing most.
  • BTC rose above the $77,000 realized market mean and $84,000-$85,000 holder supply zone.

Bitcoin spot-market activity has rebounded sharply, with 24-hour spot trading volume across exchanges rising 121% from its August low, according to Glassnode's latest The Week On-chain - Escape Velocity report. Gate recorded the largest increase in market share during the expansion. Unlike the previous four instances of growing trading volume, which were each accompanied by falling prices, this increase occurred alongside a BTC rally. Bitcoin has also moved above its $77,000 realized market mean price and the $84,000 to $85,000 supply zone held by long-term investors.

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Bitcoin spot volumes surge 121% from August low, Glassnode says - CoinPost Terminal