Bitcoin Volume Saw False Spike Due To Binance’s Fee Removal

Cryptocurrency exchange alleges "millions of dollars" in losses as a result of what it describes as a "false and misleading" article. Binance has filed a lawsuit in the state of New Jersey against Forbes Media and two of its journalists, Michael del Castillo and Jason Brett, alleging that an article published under the title Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators was defamatory. Binance is demanding both compensatory and punitive damages.The article, which appeared on the Forbes website on Oct 29 2020, reported that the ‘Tai Chi’ document....

Bitcoin’s recent gains appear to have been driven by leverage-fuelled speculation, with open interest in futures and Binance’s leverage ratio pushing into new highs. On Nov. 4, crypto data market aggregator CryptoQuant published a chart indicating Binance’s Estimated Leverage Ratio — open interest divided by Bitcoin (BTC) reserves — has pushed into new all-time highs.The record was set on Nov. 3 after a spike in open interest pushed Binance’s ELR above 0.18 for the first time. The spike in ELR came shortly before Bitcoin established a double-bottom at roughly $13,400. New data suggests....

In October 2023, EUR-denominated weekly spot volume on Binance, a top cryptocurrency exchange, fell to $160 million, an 88% drop from $1.3 billion recorded seven months earlier in March 2023. At this level, EUR trading volume on the besieged exchange is at a three-year low, pointing to how consequential the decision by regulators to crack down on […]

Data shows the Bitcoin trading volume has remained near one-year highs recently as activity on Binance stays elevated following the fee removal. Bitcoin 7-Day Average Trading Volume Has Kept At High Values In Recent Weeks As per the latest weekly report from Arcane Research, around 80% of the latest activity on the BTC network is […]

Key Highlights. Dogecoin price spiked down and tested the swing low of 26.5 Satoshis where buyers defended the downside. This can be seen as a false break or may be a quick move down with the data feed from HitBTC. The price is still above a major support trend line on the 30-min chart, suggesting that short-term trend is still bullish. Dogecoin price after the recent false spike may trade back higher. If there is a close above 32.0 Satoshis, then buyers may take control. Buy close to the trend line and support area? Dogecoin price fell sharply Intraday, and broke a major support trend....