$KAITO Over the last 90 daily candles (UTC, August 9 to November 6), it fell from 0.726 to 0.2194 on Binance Spot, down 69.8%. A steep drop isn’t unusual; what matters more to me is volume.
Average daily trading volume was about 4.29M USDT in the first 30 days, but only about 0.71M in the most recent 30 days, down 83.3%.
I picked out the days when trading volume exceeded twice the 90-day median. There were 19 in total: 16 fell in the first 30 days, and none in the most recent 30. The biggest was August 12, with 18.86M in volume—12.7 times the median—and a 26.63% drop that day.
The most recent 30 days were also down 32.0%, but the average daily range narrowed from 9.68% in the first 30 days to 6.69%, and the price closed higher on 14 of those 30 days. Prices kept falling while both volatility and volume shrank. On November 5, it even touched a 90-day low of 0.2043.
The data shows that the concentrated selling seen in August hasn’t returned; there are simply fewer buyers and sellers. No one rushing in doesn’t mean the bottom is in.
For spot traders, with volume this low, even dip-buying orders should be placed in batches. For futures traders, frequently reversing positions in a low-volume grind down can easily get you whipsawed.
The chart shows the closing price and daily trading volume. The first 30 days are shaded gray, and the most recent 30 days are shaded blue.
Which do you find harder to endure: a low-volume grind down or a high-volume crash?
Average daily trading volume was about 4.29M USDT in the first 30 days, but only about 0.71M in the most recent 30 days, down 83.3%.
I picked out the days when trading volume exceeded twice the 90-day median. There were 19 in total: 16 fell in the first 30 days, and none in the most recent 30. The biggest was August 12, with 18.86M in volume—12.7 times the median—and a 26.63% drop that day.
The most recent 30 days were also down 32.0%, but the average daily range narrowed from 9.68% in the first 30 days to 6.69%, and the price closed higher on 14 of those 30 days. Prices kept falling while both volatility and volume shrank. On November 5, it even touched a 90-day low of 0.2043.
The data shows that the concentrated selling seen in August hasn’t returned; there are simply fewer buyers and sellers. No one rushing in doesn’t mean the bottom is in.
For spot traders, with volume this low, even dip-buying orders should be placed in batches. For futures traders, frequently reversing positions in a low-volume grind down can easily get you whipsawed.
The chart shows the closing price and daily trading volume. The first 30 days are shaded gray, and the most recent 30 days are shaded blue.
Which do you find harder to endure: a low-volume grind down or a high-volume crash?
