Bitcoin (BTC) seemingly sank without clear reasons, as volatility returned with a strong downside. BTC fell to lows of $7,895.63, later recovering to $8,051.63, with relatively robust trading above $19 billion’s equivalent in 24 hours.
There is no single opinion on what triggered the drop in prices, though the losses were exacerbated by the large BTC derivatives markets on several exchanges. With increased volatility, liquidations lead to immediate losses.
In the meantime, the new lowered prices led to increased interest in the Bakkt exchange for futures trading. Bakkt traded 71 BTC on its first day, and afterwards volumes dipped to a lower range. The exchange is still in the phase of pr...