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(GBTC) - Bitcoin Trading Volume, Active Addresses Hit Record High Despite Slump — What That Means


Despite the volatility that has been seen in Bitcoin (BTC) over the last two days trading seems robust in the apex cryptocurrency. 
What Happened: Bitcoin trading volumes on the eight major exchanges tracked on the CoinDesk 20 index have exceeded $11 billion a new all-time high from the previous record set during the 2017 bull market, CoinDesk reported on Monday.
“Some of this volume is definitely from new and unexperienced (sic) investors entering the market for the first time and panicking when the price starts falling,” Bendik Norheim Schei, head of research at Arcane Research, told CoinDesk.
“These corrections are necessary and healthy, even in a bull market,” said Schei. ....

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(GBTC), (ETHE) - Key Metric Indicates Bitcoin Rally Might Be Over For The Time-Being: What You Need To Know


The MPI hit 4.52 on Jan. 7, as Bitcoin approached $40,000 levels, as per CryptoQuant data.
Why It Matters: The BTC sale by miners is diametrically opposite to institutional investors who made record Bitcoin purchases as the apex cryptocurrency crossed $30,000 levels, also noted by Ki last week.
See Also:
Willy Woo, an on-chain analyst, said in May that there are two factors that add selling pressure in the market after the block reward halving Miners who dilute supply and sell on to the market and exchanges who tax traders and sell onto the market, Cointelegraph reported.
Miners have been beneficiaries of the 300% spike in Bitcoin prices in 2020 as they mopped up $692 million in revenue in December alone, a 33% jump over the preceding month, noted CoinDesk. ....

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