Bloomberg Law
June 22, 2022, 10:38 AM

Coinbase Trading Volumes Point to Crypto Fatigue, Says Mizuho

Matt Turner
Matt Turner
Bloomberg News

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 Dan Dolev
  • 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 ...

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