Historically low spot volumes and investor indecision weigh on Bitcoin price
Bitcoin price struggles to gain momentum as historically low spot volumes and a strengthening dollar result in widespread indecision from most traders. If one word could be used to describe how the majority of participants in the cryptocurrency ecosystem feel about the near-term outlook for Bitcoin (BTC) it would be 'undecided', as mixed signals from all manner of indicators have many traders waiting for a significant move in either direction before planning their next entry point. A new report from Delphi Digital took a macro look at Bitcoin's current price action and found that a variety....
Related News
Digital currency markets have been tumultuous during the past month as bitcoin shed 15.43% and ethereum dropped 17.49% against the U.S. dollar. Moreover, crypto spot volumes are down 18.95% lower than the month prior, and both futures and options volumes were down in April as well. Lower than average trade volumes typically suggest overall interest has declined, and investors may be waiting on the sidelines for lower prices.
April’s Crypto Market Spot Volumes Slip Close to 19% Lower Than Last Month
The crypto economy ended the month of April in the red, as most digital....
Bitcoin has maintained high prices well into the first week of November. The month is expected to follow bullish trends that were triggered in the previous month and bitcoin has not been disappointed in this regard. However, some metrics remain low compare to the price of BTC. This could be as a result of investors taking profit in the market but low enough to draw attention to them. BTC had seen a lot of investment pour into it the week after the first ETFs went live. The record-breaking $1.4 billion inflow for the week had pushed the price of the digital asset towards a new all-time....
Digital currency markets have slipped significantly in value during the last two weeks and the lower prices have not sparked higher trade volumes. Data shows cryptocurrency spot market volume has slipped from $1.4 trillion in November 2021, to this month’s $593 billion in volume. Bitcoin futures open interest and volumes have dropped considerably over the last two months as well.
Crypto Volumes Slide Month-Over-Month Since November
When crypto markets shed significant value, traders typically look to see if trade volume increases in order to support the current prices.....
Bitcoin exchange trade volumes have soared over the past week as the bitcoin price hit its high for the year. Exchanges are reporting some of the highest volumes seen this year. Over the counter (OTC) trading has also taken off with over three times normal trading volumes according to Genesis Trading. ItBit's Director of Trading Bobby Cho released the trading desk's October 2015 report yesterday showing monthly trading volumes up 42 percent over September: itBit Bitcoin OTC Market Data Summary for October 2015. Total Bitcoin Volume Traded: 41,328 XBT. Total USD Amount Traded: $10.1....
On-chain data shows Bitcoin is retesting a historically significant support level after the latest plunge in the asset’s price has gone through. Bitcoin Is Currently Retesting The Short-Term Holder Realized Price As explained by CryptoQuant community manager Maartunn in a new post on X, BTC has returned to the Realized Price of the short-term holders with its drawdown. The “Realized Price” here refers to an on-chain indicator that, in short, keeps track of the acquisition price or cost basis of the average investor in the Bitcoin sector. When the value of this metric is....