Bitcoin trading volume skyrockets three days ahead of attempted coup in Russia

exchange68September 12, 2024

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Quick Take

Over the weekend, news broke of an attempted coup in Russia. Despite its resolution by the end of the weekend, this news drew widespread attention.

This incident coincided with a spike in trading for the USDT/RUB currency pair. The trading volume for this pair climaxed at $8.53 million, marking the most considerable volume since the FTX market crash in November of the previous year.

Intriguingly, three days prior to the reported coup, on Wednesday, June 21, there was a substantial spike in Bitcoin (BTC) volume traded with the RUB. It escalated to $2.21 million, the highest since the SVB market downfall in March. This reflects a surge in trading activity linked to geopolitical events.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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