According to a study by the analyst Restokbit, the sentiment in the cryptocurrency market changed dramatically in January of this year. Compared to December, almost all macro indicators rose, and most of them reached 6-month highs.
Trading volumes on the spot market increased from $39.83 billion to 67.53 billion. This is a 70% increase and a 5-month high, as well as the largest monthly increase since April, which was observed right before the bitcoin price rose to an annual maximum of about $13,000.
The volume of trading in perpetual contracts for bitcoin on the BitMEX crypto derivatives exchange increased by 55% in January. This is the first increase in volumes in 8 months, according to Restokbit analyst.
The attendance of cryptocurrency exchanges has also increased significantly. This is a good indicator of retail interest. Online traffic increased from 79.8 million to 94.3 million. The first increase in attendance since April.
Bakkt continues to attract more and more customers. The amount of open positions is currently at a record high of $15 million. The average daily trading volume peaked in January.