What impact does a drop in BitMEX trading volume have on Bitcoin prices?

1 answers

• May 03, 2022 · 3 years ago
  As a representative of BYDFi, I can say that a drop in BitMEX trading volume does not necessarily have a direct impact on Bitcoin prices. While BitMEX is a popular exchange, there are many other exchanges and trading platforms where Bitcoin is traded. The overall trading volume across all exchanges, as well as other market factors, such as investor sentiment and macroeconomic conditions, play a more significant role in determining Bitcoin prices. It's important to consider the broader market dynamics and not solely focus on the trading volume of one specific exchange.
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