Wall Street OTC Bitcoin Trading Desks See Record Volumes as Price Hits 52-week Highs
Bitcoin exchange trade volumes have soared over the past week as the bitcoin price hit its high for the year. Exchanges are reporting some of the highest volumes seen this year. Over the counter (OTC) trading has also taken off with over three times normal trading volumes according to Genesis Trading. ItBit's Director of Trading Bobby Cho released the....
Related News
Wall Street has previously not been at the forefront of bitcoin trading in the past. However, that looks poised to change. The approvals of three bitcoin ETFs in the past week have brought about more institutional interest in the digital asset and Wall Street brokers are starting to turn their attention to the cryptocurrency. The first Bitcoin ETF recorded trading volumes of over $1 billion on its first day. This success has not missed the radar of Wall Street. Analyst Christopher Brendler sat down with Coindesk to talk about the future of bitcoin in Wall Street. According to Brendler,....
Despite 15% gains coming during a weekend, Monday simply delivers more of the same upside for Bitcoin prior to the Wall Street opening. Bitcoin (BTC) returned to $19,000 on Nov. 30 as a weekend surge continued to produce fresh gains for investors and hodlers.BTC price up 18% against weekly lowsData from Cointelegraph Markets and TradingView showed BTC/USD retaking another key psychological level during Monday trading.The weekend had already produced major upside for the pair, which late last week dived to $16,300. By the start of Monday, $18,600 had appeared, with Bitcoin going on to....
There's no shortage of demand for Bitcoin at current prices, but volatility to the downside is back on Friday. Bitcoin (BTC) is being aggressively bought up by institutional entities this week as data shows over-the-counter (OTC) trading volumes spiking.As noted by Dylan LeClair, co-founder of analytics and advisory firm 21st Paradigm, high net worth individuals have clear interest in Bitcoin at current prices.Investors ramp up BTC activityCiting data from on-chain monitoring resource Glassnode, LeClair eyed a sudden uptick in OTC activity just a BTC/USD hit local highs of $40,700.A....
The previous big launches of Bitcoin-related products on Wall Street were followed by multi-month price slumps. Wall Street opened its doors for the first Bitcoin (BTC) exchange-traded fund (ETF) on Oct. 19, with the listing of ProShares Bitcoin Strategy (BITO) on the New York Stock Exchange. The fund attracted more than $1 billion in trading volume on its first day, while BTC price rallied to a new record high of $67,000.But the spot gains did not stay for too long with BTC paring some gains going into the weekend.Bitcoin price corrected by almost 11% from its all-time high to reach....
Daniel Mark Harrison is a financial journalist and entrepreneur who writes a daily column for The Motley Fool UK and whose work has appeared regularly in other mainstream publications, including the Wall Street Journal. Since discovering bitcoin in early 2013, he has had a fascination for the digital currency. In this article, Harrison examines the many reason touted for the decline in the bitcoin price, debunking a few myths along the way, and takes a look at where the price might be headed in both coming months and years. The past weekend rounded up the recent trend of brutally....