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, are also provided below.
May Bitcoin OTC Trading Letter from Elizabeth Hamilton
Execution volumes on our OTC desk were down overall in May. Volatility and volumes remained low across the bitcoin market over the first three weeks of the month. These sleepy weeks yielded smaller trade sizes and execution prices as well as no clear preference for discounts or premiums to market prices.
Volatility returned in a big way over the final week of May. The price of bitcoin surged nearly 25% to a 21-month high, driving up global exchange trading volumes and activity on our OTC trading desk.
May itBit Bitcoin OTC Market Data Summary
|Total Bitcoin Volume Traded||19,710 XBT|
|Total USD Amount Traded||$8.7 Million|
|Average Daily Trading Volume||635 XBT|
|Month-over-Month OTC Trading Volume Growth||-16%|
May itBit Bitcoin OTC Highlights
- Traders in Southeast Asia and Japan significantly increased their share of executions, growing in absolute volumes even as our OTC desk volume decreased. North America still makes up a majority of our bitcoin OTC trading volume.
- Average trade size (in XBT) on our OTC desk decreased 33% month-over-month in May.
Director of Trading, itBit
Please note: itBit never double counts OTC volume or USD dollar amount traded.