Coinbase is seeing a surge in average trading volume on down days for Bitcoin, but not when the world’s largest cryptocurrency is rallying, a sign that investors may be getting fatigued, according to Mizuho.
- “Coinbase volume trends in May and June highlights a potential decline in appetite for crypto trading vs. the last two years,” writes analyst
- He notes that historically, volumes on days when Bitcoin falls is 15% higher than volume on days when Bitcoin rallies
- Adds that since May, down-day volumes have surged to be roughly 42% higher than up-day volumes
- “We encourage investors to tame ...