All of the above events are perfectly normal and easy to understand. The interesting part is that BTC prices have stayed around these new levels to date.
1. Number of exchanges have increased.
2. More institutional players are in the markets.
3. More wash-trading or fake volumes on the exchanges than before.
Even after accounting for both of the above, the spike in trading volumes is impressive.
Looking ahead...
Authors: Joseph Thurakal
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FalconX Raises Series C Led by Altimeter Capital, B Capital Group, Sapphire Ventures, and Tiger Global Management, with participation from Amex Ventures and Mirae Asset
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