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Compared to Bitcoin keeping a relatively stable price, the British pound sterling (GBP) recorded the highest volatility growth in September, leading to a dramatic increase in BTC-GBP trading volumes, reports Finbold citing data published by blockchain analytics platform Kaiko on October 24. The weakening of the pound can be attributed to the UK government’s fiscal stimulus initiatives unveiled by the country’s shortest-serving Prime Minister Liz Truss, which triggered a sell-off in British assets and increased Bitcoin’s appeal as a hedge option among investors. As a result, Bitcoin volumes surged on UK markets, with trading volumes between BTC and GBP skyrocketing 233% in September compared to the month before as investors began to flock toward the flagship digital asset, according to data from crypto research firm CryptoCompare. Specifically, trading volumes between GBP and Bitcoin spiked to a daily record high of £846.89 million on September 26, whereas on the day before, they stood at only £57.23 million – an increase of 1,379.8%.

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【Failing British pound pushes BTC-GBP trading volume to skyrocket in September】Compared to Bitcoin keeping a relatively stable price, the British pound sterling (GBP) recorded the highest volatility growth in September, leading to a dramatic increase in BTC-GBP trading volumes, reports Finbold citing data published by blockchain analytics platform Kaiko on October 24.

The weakening of the pound can be attributed to the UK government’s fiscal stimulus initiatives unveiled by the country’s shortest-serving Prime Minister Liz Truss, which triggered a sell-off in British assets and increased Bitcoin’s appeal as a hedge option among investors.

As a result, Bitcoin volumes surged on UK markets, with trading volumes between BTC and GBP skyrocketing 233% in September compared to the month before as investors began to flock toward the flagship digital asset, according to data from crypto research firm CryptoCompare.
Specifically, trading volumes between GBP and Bitcoin spiked to a daily record high of £846.89 million on September 26, whereas on the day before, they stood at only £57.23 million – an increase of 1,379.8%.

Failing British pound pushes BTC-GBP trading volume to skyrocket in September

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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