RATE Group | Retail Bought $3.7K Bitcoin Price Dip on Record $76B Volume: Report
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Retail Bought $3.7K Bitcoin Price Dip on Record $76B Volume: Report

05 Apr Retail Bought $3.7K Bitcoin Price Dip on Record $76B Volume: Report

Posted at 04:15h in Bitcoin News by

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Although the Coronavirus pandemic has led many brick and mortar industries to close operations, cryptocurrency exchanges seem to have had their best month in a long time. 

According to an exchange report released by CryptoCompare, Bitcoin (BTC) trading volume saw record-breaking numbers throughout the month.

Cryptocurrency market daily view

Cryptocurrency market daily view. Source: Coin360

The March 13 market crash that brought the Bitcoin price from $8,000 to a low of $3,800 in 24 hours registered the biggest day for crypto in terms of trading volumes registered at Bitcoin spot markets. On March 13 alone, total daily volumes hit an all-time high of $75.9 billion.

Total Historical BTC Spot Volume

Total Historical BTC Spot Volume. Source: CryptoCompare

Bitcoin selloff propelled by a dash for cash

Not only did Bitcoin see its biggest spike in spot trading volumes during the crash to $3,750, but fiat volumes also increased substantially as traders sought liquidity amidst the Coronavirus panic. This also triggered similar selloffs in global equities and…

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