Bitcoin velocity saw an unexpected uptick this September, interrupting a steady decline that plagued the market since mid-March. This increase hints at renewed market participation, driven by traders aiming to capitalize on volatility. Historically, Bitcoin's velocity has been on a downward trend, reflecting its shift to a long-term holding asset, bolstered by rising institutional involvement. Could this latest spike signal a market ready to break from its prolonged consolidation phase and...
First significant rise in Bitcoin velocity since March shows spike in trading First significant rise in Bitcoin velocity since March shows spike in trading
Increased trading activity in September ends Bitcoin's months-long velocity dip.
3 min read
Updated: Sep. 16, 2024 at 7:59 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.