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KPIs for February 2021

  • Total volumes: $48bn
  • Total trades: 6,046,302
  • Total Bitcoin equivalent traded: 1,047,402 coins
  • 23 February 2021 record: $4.4bn traded

Total monthly Volumes
by Client Segment ($M)

Daily Traded Volumes ($M)

Monthly Volumes
by Instrument ($M)

Average Trade Size
by Instrument ($)

BTCUSD - Average Trade Size
by Client Segment ($)

ETHUSD - Average Trade Size
by Client Segment ($)

Macro crypto currency market outlook

Key indicators are unwinding from extreme overbought territory across multiple timeframes, warning of a period of deeper correction and consolidation before any meaningful bullish continuation can be expected. At the same time, look for setbacks to now be well supported into the $35,000 – $40,000 area.

    • BTC technical levels:
    • R2 57,565 – 20 February/Record high – Strong
    • R1 51,415 – 24 February high – Medium
    • S1 42,000 – Previous resistance – Strong
    • S2 40,000 – Psychological – Strong

With so much of the good news priced in around all of the new adoption from major players in the traditional markets, and with the market as extended as it was in early 2021, a major period of pullback was fully anticipated in Q1. And while there is certainly a place for bitcoin to benefit in periods of risk off given its store of value draw, at the moment, the crypto asset is still vulnerable to periods of risk liquidation in US equities. We do however see plenty of demand from larger players into dips, with the $35,000-$40,000 seen as an attractive area to build exposure.

Daily volumes Daily
volumes

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