Crypto’s Biggest Wipeout Sends Traders Flocking to Spot Markets
Bitcoin’s October spot trading hit $300B, the year’s second-highest, as traders fled leverage after $19B in losses.
Bitcoin’s spot trading volume in October was over $300 billion, making it the second-highest monthly total of the year, pushed by traders getting out of leveraged positions after the record-breaking liquidation on October 10.
CryptoQuant analyst Darkfost says the switch from high-risk derivatives to spot trading shows that speculation is cooling off and people are focusing on long-term accumulation again.
A Costly Lesson in Leverage
According to the market technician, Binance had the most BTC spot trades this month, with $174 billion, in a show of the…
