Regulated exchanges dominate Bitcoin trading volumes
Summary
The trading volume ratio between KYC and non-KYC exchanges shows a notable shift toward KYC-compliant platforms, reflecting Bitcoin's price trends. This shift coincides with significant events like the launch of spot Bitcoin ETFs, which increased institutional participation. The ratio's changes during periods of high volatility, such as post-US Presidential elections and Bitcoin's peak, raise questions about the underlying market drivers and trader preferences. These insights suggest a potential reevaluation of market dynamics and trader behavior.
