itBit Bitcoin OTC Market Recap: April 2016 [Infographic]

Blog-itBit-Bitcoin-OTC-Market-Recap-April-2016

Our monthly Bitcoin OTC Market Recap infographics are loaded with key OTC data ranging from trading volumes to spot price analysis. OTC market insights from our Director of Trading, Elizabeth Hamilton, can be found below. 

  April-2016-itBit-Bitcoin-OTC-Market-Recap-1.png

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April Bitcoin OTC Trading Letter from Elizabeth Hamilton

OTC trading volumes picked up in April after a slow month in March. The increase in price over the final two weeks of April resulted in larger trade sizes and a significant uptick in our overall OTC trading volume.

In parallel with the price increase on the exchange market, our OTC desk saw added pressure from buyers late in the month with most trades executing at a premium to our market price (see our Executions vs. Spot Price chart in the infographic above).
 


April itBit Bitcoin OTC Market Data Summary

Total Bitcoin Volume Traded 23,536 XBT
Total USD Amount Traded $10.3 Million
Average Daily Trading Volume 981 XBT
Month-over-Month OTC Trading Volume Growth 39%

  
April itBit OTC Highlights 

  • April’s notional USD OTC trading volume was our second highest ever, eclipsed only by our record-breaking February.
  • Institutional traders dominated April OTC activity, representing 83% of our execution volumes.
  • Canada showed the largest growth in volume of any country.


To learn more about itBit's OTC agency trading desk, visit us online or contact our OTC trading team directly at OTC@itbit.com. We hope you find our OTC market infographic valuable and look forward to trading with you!

 ElizabethHamilton

Elizabeth Hamilton
Director of Trading, itBit

 
Please note: itBit never double counts OTC volume or USD dollar amount traded.