RATE Group | BTC trading volumes are growing, but the price is stuck
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BTC trading volumes are growing, but the price is stuck

13 Jan BTC trading volumes are growing, but the price is stuck

Posted at 11:37h in Bitcoin News by

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  • Bitcoin trading volumes have increased strongly over the last days.
  • BTC/USD is jammed between strong support and resistance levels.

Bitcoin settled marginally above $8,000 and stayed under pressure on Monday. The first digital coin has lost over 1% of its value since the beginning of Monday and retreated from the intraday high registered at $8,193.  At the time of writing, BTC/USD is changing hands at $8,083, above SMA50 weekly (currently at $7,790). 

Bitcoin trading volumes are on the rise

The trading volumes of the first digital asset jumped by 126%, according to the recent research published by Arcane Research. However, the increase may be partially explained by low activity during the New Year holiday season.

The 7-day average real trading volume* sees a nice pump after the worrying low levels during the holiday. With almost $1.5 billion traded on Jan 8, the market recovered sharply from the disappointing $192 million that were traded on Jan 1.

The…

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