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Bitcoin Price Declines But Rallies Above $300
The price of bitcoin declined nearly 8% over the course of the day’s trading, falling to below $300 before recovering at around $310.
By Pete Rizzo
Updated Sep 14, 2021, 2:00 p.m. Published Nov 11, 2015, 10:43 p.m.
The price of bitcoin declined nearly 8% over the course of the day’s trading, falling from $337.93 to below $300 before recovering.
Data from the CoinDesk USD Bitcoin Price Index (BPI) indicates the most rapid declines started at roughly 1:30 UTC, with the price falling to a daily low of $298.75 by 3:00 UTC.
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Overall, the decrease marked the second consecutive day in which the price of bitcoin has lost gains created at the beginning of the month, when it climbed to year highs.
Year-over-year, the price of bitcoin was down roughly $50, as the price closed at roughly $366.99 on 12th November.
Prices movements were similar on the CoinDesk CNY BPI, which at press time had fallen roughly 7% from the day’s open ¥2,144.84 to ¥2,001.89. Further, the CNY BPI hit a low of ¥1,879.61 at 3:00 UTC.
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There were signs that traders are starting to turn bearing on their outlook for the bitcoin price, however, as data from BFXdata revealed the number of short positions (BTC/USD) opened on margin trading exchanges was on the rise.
BTC swaps (shorts) represented 18.3% of market positions opened at press time, up from 12.6% on 6th November.
Price up and down via Shutterstock
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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