Binance Dominates BTC/USDT Trading as Market Fluctuations Intensify
Bitcoin's price has set another all-time high, spurring intense trading activity and concerns about market stability. As of November 13, major exchanges like Binance are leading a surge in BTC/USDT volume, which has reached $129 billion.
The majority of this volume comes from Binance, contributing $50.2 billion to the total. CryptoQuant analyst Crazzyblockk has expressed concerns about the 'exceptionally overheated' Bitcoin futures market, warning investors and traders to navigate the current environment with caution.
He advises waiting for price stability before making further decisions. The recent price drop of 6.1% to $87,977 has brought BTC below the $88,000 mark, a 5.9% fall from its peak.
Crypto analyst Ali notes that $5.42 billion in Bitcoin profits have been realized, pushing the sell-side risk ratio to 0.524%. He cautions investors to 'stay alert and proceed with caution.'