Türkçe
Español
The leading cryptocurrency, Bitcoin (BTC), has started to consolidate between $26,500 and $27,500 over the past few weeks. Volatility in the cryptocurrency market has been relatively low during this period. Moreover, according to a research note published on Tuesday by K33 Research, known for their studies on digital assets, the 7-day average trading volume of Bitcoin has slipped to the lowest levels in the past two and a half years.
Will the Consolidation in Bitcoin Continue?
Bitcoin (BTC), which has begun to consolidate between $26,500 and $27,500 over recent weeks, recorded a loss of nearly 2% in value over the past 24 hours, starting to trade from the $26,225 level. The total market value of the crypto ecosystem, according to CoinMarketCap (CMC) data, has declined to $1.1 trillion.
Alongside these recent declines in the crypto market, transaction volumes have also started to drop. According to the research report by K33 Research, the 7-day average trading volume of Bitcoin has dropped to the lowest levels in the last two and a half years.
Transaction Volumes Are Falling
In recent weeks, volatility in the crypto market has been relatively low. The leading cryptocurrency, Bitcoin (BTC), began consolidating between $26,500 and $27,500. According to a research note shared by K33 Research on Tuesday, the 7-day average trading volume of Bitcoin has fallen to the lowest levels in over two years.
On the other hand, despite the decline in transaction volumes, the on-chain data analysis platform, CryptoQuant, suggested that the net unrealized profit/loss ratios could indicate the early signs of a new bullish period. They stated that Bitcoin has demonstrated a relatively strong performance following its recent surge.
Hello good evening my dear brother,
I’m Mr chimaobi