قالب وردپرس درنا توس
Home / Business / Bitcoin (BTC) climbs to over 5,100 as the trading volume of the entire crypto market decreases

Bitcoin (BTC) climbs to over 5,100 as the trading volume of the entire crypto market decreases



Bitcoin (BTC) and the crypto markets continued to show increasing stability and were not yet making any major price moves, even though it was a trading session over the weekend with below-average trading volumes.

It is important to point out that Bitcoin and the aggregated markets have seen a continuously decreasing trading volume in the last seven days, which may indicate that markets are facing a sharp price surge in the near future.

Bitcoin (BTC) is slowly rising to over $ 5,100 as volume declines

At the time of writing, Bitcoin is trading at a current price of $ 5,115, just below its 24-hour lows of $ 5,050. It is important to note that BTC is currently trading at daily highs, but falling trading volumes may jeopardize the strength of further upward movement.

Bitcoin's trading volume is currently under $ 1

0 billion, up from a weekly high of nearly $ 20 billion. This declining volume could lead to greater volatility in the near future as BTC appears to be consolidating around its current price level.

CryptoMarkets as a whole have also seen a decline in trading volume over the last week – and have fallen to a current level of just over $ 30 billion from its seven-day highs of over $ 60 billion.

Analyst: BTC continues to lead the crypto market leaders in the short term

Josh Rager, a popular cryptocurrency analyst on Twitter, introduced Bitcoin's chart and the crypto-market cap chart in a recently released tweet, explaining that he is looking at the BTC chart in terms of the overall market cap chart when assessing possible trades as it currently dominates the majority of markets.

"Therefore, in the market forecast, I look at the Bitcoin chart first before making serious investments and trades (it accounts for 50% + of the MCAP atmosphere.) Then research Ethereum, followed by Altcoin charts / Volume (ETH cha rt is relative at times, as it can cause alts, but not always,), "Rager explained.

In addition, Rager later stated that the volume increase of the entire Crypto market cap appears to be bullish last week, but it appears to be showing renewed investor and trader interest in the markets. [19659009] "At the moment you can not see the extreme bullishness of the overall MCAP record, considering that the record number of shit on the market along the BTC is 54%. However, it does show a renewed interest from investors / traders, "he explained.




Source link