Is Bitcoin Reviving After the Crash?

Recently, the significant downturn in the cryptocurrency markets has increased the likelihood of Bitcoin (BTC) showing signs of revival. Historically, structural recoveries that occur after such downturns have been attracting investors' interest again. Particularly, the massive liquidation wave on October 10 triggered market activity and led investors to turn towards spot trading.

CryptoQuant analysts indicate that after the huge liquidation event on October 10, there has been a significant increase in the spot trading volumes of Bitcoin and other cryptocurrencies. The event caused substantial turmoil in the market, resulting in the liquidation of billions of dollars in leveraged positions. This situation has led many investors to reduce their risk appetite and adopt a more cautious approach.

According to analysts' data, the Bitcoin spot trading volume reached a total of $180 trillion. While daily Bitcoin spot trading volumes were between $3-5 billion at the beginning of September, this figure rose to the range of $5 to $10 billion after October 10. This increase indicates a tendency to engage in more trading in the spot market rather than the derivatives market.

According to CryptoQuant analysts, this revival in the spot market could lay the groundwork for a more sustainable upward trend. Analyzing historical cycles shows that periods of spot accumulation generally precede structural recoveries. The return of spot liquidity could pave the way for new price momentum driven by innovation.

In summary, the developments following the October 10 downturn demonstrate that the Bitcoin market is beginning to return to healthy fundamentals. It is crucial for investors to be prepared for potential recoveries and to pay attention to changes in the markets.