• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency Technology

Low Volume on US Crypto Exchanges as SEC Bitcoin ETF Decision Nears

Cole Petersen by Cole Petersen
3 years ago
in Cryptocurrency Technology
Reading Time: 3min read
Low Volume on US Crypto Exchanges as SEC Bitcoin ETF Decision Nears
Advertisement

The cryptocurrency markets face declining volume in the United States as they move closer to the SEC’s decision on two proposed Bitcoin ETFs. According to a recently released report, trading volume is shifting from US based exchanges to Asian exchanges preceding the Bitcoin ETF decision.

Trade Volume Shifts to Asia

The report, conducted by research firm Diar Ltd. using CoinApi data, found an unfolding trend of trading volume shifting from US based exchanges to foreign exchanges, mostly ones located in Asia.  It also appears that exchanges with lower regulatory scrutiny are gaining trading volume, as investors shy away from exchanges that require lengthy verification processes, or other forms of KYC/AML rules.

The report states:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“Traded volumes on Coinbase, Bitstamp and Kraken have seen steep declines. Meanwhile, token exchanges outside the U.S., that have lax regulatory scrutiny, are now seeing an increase in traded volume.”

The report also notes that investors in the US are focusing their trades on large market cap cryptos, like Bitcoin and Ethereum. This could stem from fears that other altcoins could be categorized as securities by the SEC at any given time.

Traders Fear the Outcome of Upcoming ProShares Bitcoin ETF Decision

In the report, Diar also cites the SEC’s upcoming decisions on the variety of Bitcoin ETF’s in the running for approval as a contributing factor for the current price volatility. Notably, the SEC is deciding on the ProShares Bitcoin ETF in the next couple days, which could cause some major price movements for the markets depending on their decision

In the past week, Bitcoin shorts have accumulated to near record highs, signaling that the majority of traders believe that the price will spiral downward following the SEC’s ETF ruling. If the news is positive, however, the overly confident shorts will likely be squeezed, which could lead to a massive price increase in a small amount of time.

While discussing the upcoming SEC Bitcoin ETF decision, Diar said:

“The US Securities and Exchange Commission (SEC) is set to make a final decision this week on the application from ProShares for a Bitcoin Exchange Traded Fund (ETF). And the regulator has another three to consider within the next 6 months. But not much has changed since July when the SEC rejected the Winklevoss Bitcoin ETF for the second time.  Cboe President Chris Concannon says ‘the problem with a futures-based ETF is, what is the right level of liquidity? It’s never been tested before.’”

Businesses and Institutions Slow to Make the Crypto Switch 

Another factor discussed in the Diar report is the fact that businesses and institutions are currently slow to adopt cryptocurrencies as a form of payment. Diar attributes the lack of widespread adoption to an unclear regulatory framework, saying, “Businesses will likely remain unwilling to take on the risk of regulators digging through their affairs after a near-decade of media focus on illicit activities revolving around Bitcoin.”

That being said, the upcoming ICE backed Bakkt exchange may help with mass adoption, as the cryptocurrency platform will be working with major corporate partners, including Microsoft and Starbucks, to bring corporations and institutions into the crypto markets.

Diar warns investors of the risks posed by turning Bitcoin into a mass institutional investment product, saying:

“The institutional drive could metaphorically strip Bitcoin’s utility as a currency for trade, should it become seen a holding asset as it forms into what enthusiasts have been voicing all along – digital gold.”

At the time of writing, Bitcoin is trading at $6,680, trading up from daily lows of $6,300.  The altcoin markets are currently flat, with many coins trading up or down 1%. It is likely that current stability is simply the calm before the storm as the SEC Bitcoin ETF decisions are sure to impact the markets.

Featured image from Shutterstock
Tags: Bitcoin ETFcrypto marketstrade volumeUS exchanges
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

ILCoin, virtual reality

Why Virtual Reality is The Future of Entertainment

1 month ago
Contested Election Results Force Discussion of Blockchain Based Voting System

Contested Election Results Force Discussion of Blockchain Based Voting System

4 months ago
jax network

Jax.Network Addresses Crypto Scalability Issues, to Create A Decentralized Consumer Payment System

5 months ago
crypto tether usdt stablecoin

No, Another $1 Billion In Tether (USDT) Wasn’t Added To The Crypto Market Cap

6 months ago
crypto

South Korean Crypto Platform ICON Launches Decentralized Passport Service

2 years ago
Swiss Luxury Hotel Accepts Bitcoin Showing Increase in Adoption, CEO Explains Motive

Swiss Luxury Hotel Accepts Bitcoin Showing Increase in Adoption, CEO Explains Motive

2 years ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

BTCS Now Producing Revenue from all 100 Ethereum 2.0 Nodes

March 8, 2021

Router Protocol and Polygon Partners With DFyn to Launch L2 GalaxyFarm

March 8, 2021

Get the Latest Crypto News, Trends and Insights at Interactivecrypto

March 8, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.