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In January, the market was receiving uncertain conditions.
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Despite this, Bitcoin (BTC) reached new historical maximums.
Bitcoin’s trading volume (BTC) and cryptocurrencies fell 20.2% in January, compared to the previous month, marking the first setback in four months.
According to CCData data, The combined trading volume of cash operations and derived in centralized exchanges in the first month of 2025 was 9 billion (trillions). «The decrease in commercial activity follows a period of high volatility prior to the inauguration of Donald Trump», stands out in the report.
As for the volume of cash operations, In January he reached 2.88 billion dollars, marking his first fall since September.
For its part, the monthly volume of derivative operations in Exchanges, fell to 6.15 billion dollars, representing a decrease of 18.8%.
«This fall can be attributed to the caution of the market after the inauguration of Donald Trump and its initial policies related to tariffs at the beginning of their new mandate,» CcData specialists clarify.
As cryptootics reported, BTC reached its historical (ATH) of $ 109,000 on January 20, In the hours before Trump’s presidential assumption.
After his first speech, in which he did not mention the digital assets, the price of the currency created by Satoshi Nakamoto collapsed, which reflected the high volatility that existed at that time in financial markets. Currently, the BTC price is $ 98,230.
The report also mentions The uncertainty that unleashed the tariff policies announced by Trump at the end of January.
Specifically, the president advanced his intentions to impose 25% tariffs for most products imported from Mexico and Canada. However, the measure that should go into force on February 4, He was suspended after conversations between authorities from these countries.
For now, 10% tariffs are maintained for purchases from China. In response, the Xi Jinping government plans to apply new rates from February 10.
In the midst of these political tensions, The fall in the trading volume suggests that investors are more cautious before making important decisions.
On the other hand, the report also clarifies that “despite reaching the lowest monthly volume since October, commercial activity in centralized exchanges remains high, since the main digital assets, including Bitcoin and Ether (ETH), receded to its low rank levels of $ 90,000 and 2,000 dollars, respectively, in early February ».
Likewise, the derivative market share increased in January for the first time in three months, rising to 68.1 % from 67 % in December. According to analysts, this suggests that «traders are resorting to derivatives to cover uncertain market conditions.»
The open interest (OI) in all instruments rose 8.35 % to 112,000 million dollars, as seen in the following graph.
OI growth indicates that traders have significant movements in the price of underlying digital assets in the coming months.
It is a metric is key to understanding the feeling of the market, commercial activity and liquidity. It also shows how many futures contracts of each asset are currently in circulation.