2024

Rally

Bitcoin

Gains

<ul class="wp-block-list">
 <li>The coin rose above $90,000 in December 2024, marking a&nbsp; turning point in the crypto market.&nbsp;&nbsp;</li>  
 <li>Coinbase's trading volume dominance continued to drop, signaling a change in trading trends across platforms.&nbsp;&nbsp;</li>  
 <li>Offshore and autonomous companies are growing, taking a bigger role in shaping Bitcoin's price movements internationally.&nbsp;&nbsp;</li> 
</ul>  
BTC has shot past $90K in December 2024, and Coinbase’s trading volume position has continued to drop. This surprising divergence shows the changing dynamics of the digital currency market, with new players gaining control over trading trends.&nbsp; <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd_KlTvWKGLNID9mjfPqaH8KY678rd9QBXUjTCtzsisUDbCQf8GYQqel3149xt3dbcWq_DhCd-PZQ-Lk7s_ux3nKqQEAL1tCeCAjJaG-oI-I6v-zASxlfSVkuTzGWhFGYsayR2J?key=-mZXFyRi0Lso2sBRfvNwLP-6" width="624" height="361">  
Source:<a href="https://x.com/cryptoquant_com/status/1866838383026377167" target="_blank" rel="noopener noreferrer nofollow">CryptoQuant</a>  
<h2 class="wp-block-heading" id="h-bitcoin-s-price-gains-momentum">Bitcoin’s Price Gains Momentum</h2>  
The token's price began its strong rally in October and has steadily climbed, surpassing $90,000 for the first time this year. While the price showed strength, the organisation's spot-selling volume dominance stayed notably low throughout the rally. Historically, Coinbase activity often mirrored Bitcoin’s price, reflecting the confidence of U.S. investors in the market.  
However, the disconnect between the token's rising price and Coinbase’s declining power suggests the expansion role of offshore exchanges and autonomous platforms. These exchanges have likely attracted more activity from traders during this period, which reduces the reliance on the company.  
<h2 class="wp-block-heading" id="h-changing-activity-in-early-2024">Changing Activity in Early 2024</h2>  
Between January and March 2024, Coinbase’s trading dominance showed changes, ranging widely between 0.15 and 0.6, which suggested fluctuating market participation. During this time, Bitcoin’s price experienced recovery, but the trading behavior on Coinbase remained inconsistent.&nbsp;  
This indicated that other exchanges or markets were likely absorbing trading activity.As the year progressed to mid-2024, Coinbase’s dominance became more stable, but Bitcoin’s price began to fall.&nbsp;  
Analysts observed that the stability of <a href="https://cryptonewsland.com/us-court-sides-with-coinbase-is-this-the-end-of-secs-crypto-dominance/" target="_blank" rel="noopener noreferrer nofollow">Coinbase dominance</a> coincided with a shift in activity to offshore platforms and growing participation in derivatives markets. The reduced role of Coinbase reflected its diminishing influence on global cryptocurrency trading, especially as new exchanges gained prominence.  
<h2 class="wp-block-heading" id="h-market-dynamics-during-the-december-rally">Market Dynamics During the December Rally</h2>  
By the end of 2024, Bitcoin’s price saw a climb above $90,000, yet Coinbase’s trading dominance continued to decrease. This trend shows how independent investment sites and offshore markets are playing an increasing role in price determination.&nbsp;  
The analyst mignoletkr explained that this divergence underscores the need for investors to monitor more&nbsp; data sources to understand the market. The consistent decline in Coinbase dominance, even during <a href="https://cryptonewsland.com/bitcoins-sopr-golden-cross-signals-explosive-rally-analyst-predicts-final-bull-phase/" rel="noopener noreferrer nofollow">Bitcoin’s rally</a>, emphasizes the complexity of the cryptocurrency market.&nbsp;  
Traders must broaden their focus beyond U.S.-centric exchanges as decentralized and offshore platforms increasingly shape global trading dynamics. 
The post <a href="https://cryptonewsland.com/bitcoin-hits-90k-while-coinbase-trading-volume-declines-in-december-2024/" rel="noopener noreferrer nofollow">Bitcoin Hits $90K While Coinbase Trading Volume Declines in December 2024&nbsp;</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Bitcoin Hits $90K While Coinbase Trading Volume Declines in December 2024

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