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21 January 2021

Market Wrap: Bitcoin Dips Below $19,000 as Ether Options Volume Drops - CoinDesk

Market Wrap: Bitcoin Dips Below $19,000 as Ether Options Volume Drops - CoinDesk


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Market Wrap: Bitcoin Dips Below $19,000 as Ether Options Volume Drops.

Ether options traders appear less inclined to place bets on the asset’s price, as evidenced by lower Deribit volume.

Low spot volumes on CoinDesk 20 exchanges are plaguing the market for the third day in a row, with Friday’s $973 million in daily volume as of press time lower than Thursday’s $1.1 billion in daily volume and Wednesday’s $1.3 billion in trading activity across the eight major exchanges.

According to data from aggregator Glassnode, the number of bitcoin addresses withdrawing from exchanges is much lower than those depositing so far this year.

After a surge of ether options volume on derivatives venue Deribit at the end of November, market interest seems to have dissipated, according to Greg Magadini, chief executive officer for data aggregator Genesis Volatility.

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