On-chain data suggests that the market has “already capitulated” and traders identify a bullish technical analysis pattern with a breakout target near the $41,300 level.
“The United States is committed to ensuring that no asset, no matter how complex, becomes a mechanism for the Putin regime to offset the impact of sanctions,” said Treasury.
Ill introduce myself by sharing that i am a research analyst who specialises in layer two technology and growing innovation. I have out performed the S&P500 this year with my LRC investment which after an 80% drop is actually still up 29%. History lesson Loopring got a first mover advantage on the L2 market by…
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Everyone thinks bad news is FUD, which they use as a stand in for saying it’s wrong, incorrect, false, or delusional. But sometimes bad news is just bad news. We have to have more rational and balanced conversations if we want to progress this growing asset class forward. China banning crypto wasn’t FUD it was…
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Google search data and exchange activity point to the declining interest from retail traders as crypto investors search for the next big spark that will bring fresh capital into the ecosystem.
Rug pulls are a lucrative scam in which a crypto developer promotes a new project/token to investors, and then disappears with the money. The most epic one on record is OneCoin which rugged $4B. The most recent/ noteworthy one in my opinion is Squid Game which rugged $3.36M. Without getting into semantics, there are typically…
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While April 20 or 420 is synonymous with cannabis culture, the day is also considered “Doge Day,” by a great number of dogecoin supporters. The day prior on Twitter, the Doge network’s co-founder Billy Markus asked what people should expect on Doge Day and for dogecoin’s price action. 12 months ago dogecoin was swapping hands […]
The symbol was quickly “erased” via a community effort to bid on land around it, altering its shape into a window.
Data shows the weekly average Bitcoin trading volume has stabilized around the same lows as July 2021 as market activity remains low. Bitcoin Trading Volume Has Stayed Low In Recent Weeks According to the latest weekly report from Arcane Research, the BTC trading volume has sunk down to July lows recently. The “trading volume” is an indicator that measures the total amount of Bitcoin being transacted on the chain in a day. When the value of this metric goes up, it means investors are moving a higher number of coins right now. Such a trend suggests the market activity is going up as holders become more interested in trading. On the other hand, a downtrend in the indicator implies the Bitcoin market is turning more inactive currently. This may show a general lack of interest in the crypto among investors at the moment. Now, here is a chart that shows the trend in the BTC trading volume over the past year: The indicator’s value seems to have been at low values recently | Source: Arcane Research’s The Weekly Update – Week 15, 2022 As you can see in the above graph, the daily Bitcoin spot trading volume has struggled a lot recently, and has declined to 7-day average values of around just $3 billion. Related Reading | Now Or Never: Bitcoin Builds Base At Decade-Long Parabolic Curve The metric is now at the same lows as July of last year. Back then, the price had been consolidating sideways for a couple of months following the May crash. Bitcoin Price Surges Above $42k, Can It Revive The Volume? Usually, periods of high trading volumes have been when the price of BTC has successfully made some large moves. It’s because to sustain any such move, the market needs a high number of active traders. Related Reading | Calm Before The Storm: Bitcoin Volatility Reaches Pre-Bull Breakout Levels But it’s also true that any large price move attracts more investors to the market, thus raising the volume. In cases when it doesn’t happen, the rally generally dies down before too long. Today, Bitcoin’s price has crossed above the $42k mark again after plunging down below the $39k level just a few days back. The below chart shows the trend. The value of BTC seems to have shot up over the last couple of days | Source: BTCUSD on TradingView It’s possible that this new surge may be able to revive the volume a little. However, it’s also true that there have been a few instances this year already where a rise in the price wasn’t accompanied by a spike in the volume. It now remains to be seen which scenario will play out this time. Featured image from Unsplash.com, charts from TradingView.com, Arcane Research
