Indonesian Exchange Volumes Surge — Arbitrage & Wash Trading Fuel BTC Noise

Local Indonesian exchanges are experiencing unprecedented volume spikes even as global Bitcoin prices decline. Experts suggest that arbitrage trading — and possibly wash trading — are amplifying the country crypto activity.

While Bitcoin struggles to maintain price support around $98,000, Indonesian trading platforms are witnessing explosive volume surges. According to CFX Digital Exchange, spot trading activity jumped more than 40% in just 72 hours, defying the global downtrend.

This spike is largely attributed to arbitrage traders exploiting temporary price gaps created by new tax differentials between local and offshore platforms. As global exchanges adjust their liquidity parameters, Indonesian markets are becoming a playground for short-term profit seekers.

However, analysts caution that some of this “activity” may not be organic. A number of watchdogs and blockchain intelligence firms suspect that automated bots are inflating metrics through wash trading, a practice that artificially boosts volume statistics without real capital inflows.

On X, trader @Arb_Hunter_Asia posted:

“These numbers are crazy —  we’re seeing 10× more volume but the same liquidity depth. Someone’s playing a dangerous game.”

Despite regulatory challenges, the arbitrage frenzy has temporarily revived market sentiment in Indonesia, as local users celebrate renewed activity and short-term gains. Still, experts warn that inflated metrics could mask deeper fragility within the region’s crypto ecosystem.

Our creator. creates amazing NFT collections! 
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)

Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.

Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).

Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)

Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)