BTC October spot volume hits yearly high after massive liquidations

Bitcoin's spot trading volume in October surpassed $300 billion, its highest level this year, as traders shifted to the spot market to avoid leverage risk following a record-breaking liquidation event on Oct. 11. The analysis comes from crypto analyst Darkfost in a contribution to CryptoQuant. Darkfost explained that the largest-ever forced liquidation event served as a reminder to traders of the risks and unsustainability of leveraged positions. He added that a market driven by spot trading, rather than derivatives, is less vulnerable to the increased volatility caused by surges in open interest. Such a market reflects more organic demand and can be considered healthier and more stable.