Roughly 247 days ago, the total bitcoin futures open interest across 12 different cryptocurrency derivatives trading platforms was $26.73 billion and over the last eight months, bitcoin futures open interest has dropped 60% down to $10.69 billion. Further, the bitcoin exchange-traded funds BITO and BTF have followed bitcoin’s spot market losses, as the bitcoin ETFs have shed between 70% and more than 73% in value since last year’s price highs.
Bitcoin Exchange Traded Funds Slide Over 70% in Value Against the US Dollar
On November 10, 2021, the crypto economy’s 24-hour spot market trade volume worldwide was approximately $181.54 billion and more than 10,000 crypto assets had a valuation of around $3.13 trillion. Today, crypto spot market trade volume is 37% lower, as the global 24-hour trade volume on July 15 saw $114 billion in trades, and the crypto economy’s 13,400 crypto assets had a recorded overall value of around $980 billion.
During the past eight months, data shows bitcoin...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...