{"id":355897,"date":"2023-11-05T00:00:31","date_gmt":"2023-11-04T18:30:31","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=355897"},"modified":"2023-11-04T15:33:04","modified_gmt":"2023-11-04T10:03:04","slug":"how-derivative-and-spot-bitcoin-volume-contributed-to-the-btc-price-surge","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/how-derivative-and-spot-bitcoin-volume-contributed-to-the-btc-price-surge\/","title":{"rendered":"How derivative and spot Bitcoin volume contributed to the BTC price surge"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">BTC spot trading volume contributed more to its price uptrend.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">Open interest and spot volume see similar trends at around $15 billion.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In the past few days, Bitcoin [BTC]\u00a0experienced a notable increase in trading volume, which has contributed to its upward price trend. It&#8217;s important to note that a significant portion of this increased volume is attributed to a specific set of trades.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">\u00a0Read <a href=\"http:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" target=\"_blank\" rel=\"noopener\">Bitcoin (BTC) Price Prediction<\/a> 2023-24<\/p>\n<hr \/>\n<h4><b>Bitcoin spot trading volume pushes price trend<\/b><\/h4>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/twitter.com\/intotheblock\/status\/1720433592310886572?t=zdpcpI9-RF43rqXEJyLkuQ&amp;s=19\" target=\"_blank\" rel=\"noopener\">IntoTheBlock&#8217;s<\/a> recent post sheds light on the recent price uptrends in <a href=\"http:\/\/ambcrypto.com\/analyzing-the-factors-behind-crypto-markets-recent-rally\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> over the past few days. Data analyzed by AMBCrypto showed that price gains were primarily driven by increased trading activities, resulting in higher trading volumes. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It&#8217;s worth noting that the contribution from derivative trading was relatively minimal.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per the observed chart, the ratio of Bitcoin&#8217;s open interest in perpetual swaps relative to its market capitalization (OI\/MC) remains close to its lowest levels in the past year. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This indicates that the trading volume affecting the price trends stemmed from spot trading. This signifies that the price trend was influenced by regular demand rather than leveraged trading in derivatives.<\/span><\/p>\n<h4><b>Open interest and spot volume display similar value<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The <a href=\"http:\/\/ambcrypto.com\/bitcoin-why-the-market-is-hopeful-of-a-btc-move-to-the-north\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> volume chart on Santiment and the Open Interest chart on Coinglass are currently displaying similar values. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, the volume chart on Santiment indicated a figure of approximately $15.2 billion. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Notably, it shows a recent decrease in trading volume over the past few days. Conversely, the Open Interest chart on <a href=\"https:\/\/www.coinglass.com\/currencies\/BTC\" target=\"_blank\" rel=\"noopener\">Coinglass<\/a> displayed a value of around $15.4 billion at the same time. However, the OI volume displayed an upward trend.<\/span><\/p>\n<figure id=\"attachment_355923\" aria-describedby=\"caption-attachment-355923\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Bitcoin-BTC-10.08.54-04-Nov-2023.png\"><img decoding=\"async\" class=\"wp-image-355923 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Bitcoin-BTC-10.08.54-04-Nov-2023.png\" alt=\"Bitcoin volume\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Bitcoin-BTC-10.08.54-04-Nov-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Bitcoin-BTC-10.08.54-04-Nov-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Bitcoin-BTC-10.08.54-04-Nov-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Bitcoin-BTC-10.08.54-04-Nov-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Bitcoin-BTC-10.08.54-04-Nov-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Bitcoin-BTC-10.08.54-04-Nov-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-355923\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<h4><b>Bitcoin sees slight declines<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The daily price trend chart for <a href=\"http:\/\/ambcrypto.com\/will-bitcoin-catch-investors-off-guard-in-the-short-term\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> revealed a recent decline over the past few days. On 3 November, the price registered nearly 1% decrease. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The decline followed a similar drop of over 1% in the previous trading session. It is worth noting that despite these declines, Bitcoin&#8217;s price remained within the $34,000 price range. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, it was trading at approximately $34,800, showing a minor increase in value.<\/span><\/p>\n<figure id=\"attachment_355927\" aria-describedby=\"caption-attachment-355927\" style=\"width: 1458px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/BTCUSD_2023-11-04_09-48-56.png\"><img decoding=\"async\" class=\"wp-image-355927 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/BTCUSD_2023-11-04_09-48-56.png\" alt=\"BTC\/USD price trend\" width=\"1458\" height=\"752\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/BTCUSD_2023-11-04_09-48-56.png 1458w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/BTCUSD_2023-11-04_09-48-56-300x155.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/BTCUSD_2023-11-04_09-48-56-1024x528.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/BTCUSD_2023-11-04_09-48-56-768x396.png 768w\" sizes=\"(max-width: 1458px) 100vw, 1458px\" \/><\/a><figcaption id=\"caption-attachment-355927\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">How much are 1,10,100 BTCs worth today<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Additionally, the chart illustrates that <a href=\"http:\/\/ambcrypto.com\/bitcoin-etfs-overhyped-or-underestimated\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> continues to exhibit a robust bullish trend. The Relative Strength Index (RSI) line, as of the current moment, remains above 80. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This indicates that Bitcoin is in an overbought state and is maintaining its strong bullish momentum.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Robust spot trading volumes and minimal derivatives influenced Bitcoin&#8217;s price surge. Open interest and spot volume mirror each other, indicating a steady market.<\/p>\n","protected":false},"author":76,"featured_media":355930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[],"class_list":["post-355897","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How derivative and spot Bitcoin volume contributed to the BTC price surge - AMBCrypto<\/title>\n<meta name=\"description\" content=\"The volume that led to the price uptrend that Bitcoin is currently witnessing was led by spot volume on exchanges.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/how-derivative-and-spot-bitcoin-volume-contributed-to-the-btc-price-surge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How derivative and spot Bitcoin volume contributed to the BTC price surge - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Robust spot trading volumes and minimal derivatives influenced Bitcoin&#039;s price surge. 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