Currently, the price fluctuation of Bitcoin is still mainly dominated by trades on Centralized Exchanges.

[Currently, the price fluctuation of Bitcoin is still mainly dominated by the trading of Centralized Exchanges] According to a chart released by @AxelAdlerJr, the 7-day average trading volume of Centralized Exchanges is about 15.8 billion dollars per day, while the figure for Spot ETFs is 1.7 billion dollars per day, resulting in a ratio of 9.2, which means that the trading volume of ETFs accounts for nearly 10% of the total trading volume. Currently, the price fluctuation of Bitcoin is still primarily dominated by trades on Centralized Exchanges — with their trading volume being nearly 10 times that of Spot ETFs. Although the inflow of funds into ETFs has enhanced market liquidity and has supported trend stability, it has not yet become the core factor driving the price movement of Bitcoin.

BTC2.05%
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