Moving Sideways Over the Holidays After the Big Dip
Bitcoin markets have been extremely bearish leading up to Christmas day on December 25, 2017. At the moment the price of bitcoin core (BTC) is hovering between $14,000-14,300 on many trading platforms worldwide. However, there has been some significant price spreads between a few exchanges leading people to try and obtain some arbitrage. For instance the price per BTC on GDAX is currently $14,400, and at times the price has been $200-400 higher over the past three days. Bitcoin trade volume worldwide for a holiday is pretty decent as $10Bn worth of BTC has been swapped in the past 24-hours. Visiting a few Telegram channels like the Whale Pool, or the Whale Club people can see that traders are still very active during the holidays.
The top five exchanges trading the most BTC include Bitfinex, Bithumb, Binance, GDAX, and Okex. Right now the USD is the dominating currency traded with bitcoin core, and leads by 39 percent. The U.S. dollar’s lead is followed by the Japanese yen, tether (USDT), the won, and the euro. Bitcoin core is also representing over 47 percent of the bitcoin cash (BCH) trades today, and BCH/BTC trades are the top pairs on Shapeshift. BTC dominance is very low right now hovering around 42 percent with a market capitalization of around $234Bn.
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