Part of the LMAX Group

KPIs for January 2021

  • Total volumes: $61bn (114% MoM growth)
  • Total trades: 8,745,964 (54% MoM growth)
  • Total BTC traded: 1,368,111 coins
  • 08 January 2021 record: $3.8bn 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

The short-term outlook should be less constructive in the aftermath of the January wave of parabolic price action through $40,000. 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 $20,000 area.

    • BTC technical levels:
    • R2 45,000 – psychological – strong
    • R1 41,990 – 8 January/record high – medium
    • S1 28,730 – 22 January low – medium
    • S2 27,680 – 4 January/2021 low – strong

While the value proposition of crypto assets is exceptionally compelling over the medium and longer-term time horizons, the fact that the asset class is still widely considered as an emerging asset class, leaves it exposed in periods of risk off. At present, the ingredients of overpriced equities, exhausted monetary policy and government stimulus efforts, and a less encouraging pandemic recovery outlook, all set the stage for a round of intense risk liquidation that we anticipate will spill over into the crypto market. At the same time, much like in 2020, setbacks should be well supported on the very solid foundations of crypto economics, with BTC maturing into an attractive alternative store of value.

Daily volumes Daily
volumes

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