For some reason, Saturday was an extremely quiet day for Bitcoin and the broader cryptocurrency market. In fact, Alameda Research CEO Sam Bankman-Fried, a crypto trader who has led a team to earn more than $ 50 million of BTC (according to some reports), wrote on Twitter that "this may be the lowest volume and the volatility day that the crypto industry has seen in a loooong time. "
This is perhaps the lowest volume and volatility day the crypto industry has seen in a loooong time. I can't remember the last BitMEX trading below $ 1B and Bitfinex below $ 50 million .
– SBF (@SBF_Alameda) November 17, 2019
Many say this low volume trend is an indication of an impending outbreak – one that can determine the future of the entire crypto asset market in the medium term.
Related reading: Is Bitcoin's long-term price trend intact? Research Firm Says So
Bitcoin Volume Plunges Out of Nowhere
For more context on this "lifeless" market, here are some statistics. Today, BitMEX's top derivative exchange saw only 86,000 BTC – well below $ 1 billion – turnover.
This is the lowest daily volume seen on the stock exchange throughout 2019, and in fact the lowest level seen since November 10, 2018. Of course, November 10 was just a few days before the start of Bitcoin collapsing from $ 6000 to $ 3000.
Lowest daily volume in 2019 just printed on Bitmex today.
This market is officially lifeless.
Note: The volume is in BTC terms. Bitmex uses BTC as marginal security, and realized profits and losses are in BTC, and thus BTC volume is a better calculation than USD volume IMO. pic.twitter.com/ym4OB04Tvv
– CL (@ CL207) November 17, 2019
It's not just BitMEX that has felt the pain of this Crypto Winter redux. The Block's Steven Zheng recently noted that "Coinbase sees the lowest daily trading volume in months, logging in at ~ $ 57M."
He added that the last time this metric "was so low was back in March."
What is remarkable about the end of March is that this period preceded Bitcoin's sudden surge in early April from $ 4,000 to $ 5,000, and that's what started the rally that brought the cryptocurrency to $ 14,000.
Related reading: Crypto Tidbits: RBC May Embrace Bitcoin, China Beads Cryptocurrency, Ethereum DeFi Booming
Other indicators suggest impending volatility. In previous reports from NewsBTC, a week's Bollinger Band Width (BBW) indicator – an indicator that shows the width between the highest and lowest Bollinger Bands, which itself is a tool used to determine the range – suggests that a massive BTC moves are on the horizon.
Right now, the indicator is 0.42, a long-term level of non-volatility. Last time this indicator interacted with this BBW range was at the end of March – just a week before Bitcoin shot from $ 4,000 to $ 5,000 in the shocking move that kicked off this year's micro beef market.
$ BTC Wkly
Some bigger brews!
It is easy to get caught up with the flashes from Volatility on lower timeframes. However, when you trade in larger numbers (ie $ 9000), it is also easy to miss the lack of scale volatility (HTF)
The weekly adage is somewhat much larger that comes pic.twitter .com / tOpj6FYDE5
– Mr. Anderson (@ TrueCrypto28) November 4, 2019
BBW was also below the 0.40 range just a week or two before Bitcoin crashed in November 2018 when the previous one bull riding began in October 2016, and a few months before Bitcoin went over $ 100 for the first time ever in 2013.
Related reading: Eerily accurate Fractal suggests Bitcoin (BTC) Price to fall 25%
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