{"id":478952,"date":"2021-12-15T19:00:17","date_gmt":"2021-12-15T19:00:17","guid":{"rendered":"https:\/\/ktsl888.com\/?p=478952"},"modified":"2024-06-11T14:09:50","modified_gmt":"2024-06-11T14:09:50","slug":"bitcoin-volume-dropping-downtrend-diminishing","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-volume-dropping-downtrend-diminishing\/","title":{"rendered":"Bitcoin Volume Dropping Could Suggest The Downtrend Is Diminishing"},"content":{"rendered":"

Data shows that Bitcoin trading volume has started dropping off, suggesting that the recent downtrend might be diminishing.<\/p>\n

Bitcoin Trading Volume Sharply Drops Off In The Past Week<\/h2>\n

As per the latest weekly report from Arcane Research<\/a>, the BTC 7-day average trading volume has significantly reduced recently.<\/p>\n

The “trading volume<\/a>” is an indicator that measures the total amount of Bitcoin transacted on the chain during a particular period.<\/p>\n

When the value of this metric goes down, it means the activity on the chain is falling off. This can imply investors are less interested in trading BTC right now as they are making less movements on the chain.<\/p>\n

Such a trend may be because investors think the price of the coin will move up soon. And hence they don’t want to move their Bitcoin at the current levels. However, it can also show disinterest in the market.<\/p>\n

On the other hand, when the trading volume rises, it means more holders are currently shifting their coins around. This kind of trend is usually the ideal ground for big price swings as you need traders for sustaining such moves.<\/p>\n

Related Reading |\u00a0Bitcoin NUPL Says Market Stands At Key Junction Between Bull And Bear Trends<\/a><\/strong><\/em><\/p>\n

In the past, there have been instances where the price of Bitcoin seemed to be sharply moving towards a direction, but the chain data didn’t show any corresponding trading activity. Such moves usually died down after some time. For example, when BTC made an all-time high (ATH), the volume still remained low<\/a>.<\/p>\n

Now, here is a chart that highlights the trend in the value of the BTC trading volume over the past year:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the indicator has recently plunged down | Source: The Arcane Research Weekly Update - Week 49<\/a><\/pre>\n
As the above graph shows, the Bitcoin trading volume saw a massive uptick earlier in the month due to the 4th Dec crash. However, in the past week, the indicator’s value has dropped off by almost 40% as the market calms down.<\/p>\n
Related Reading |\u00a0Crypto Bull Cathie Wood Says Ethereum Is More Undervalued Than Bitcoin<\/a><\/strong><\/em><\/p>\n
Since August, the trading volume seems to have plateaued around the $5 billion mark, with occasional upticks to about $10 billion during the periods of high volatility.<\/p>\n
The trading volume calming down can mean Bitcoin’s recent downtrend might be starting to diminish. This is because, as explained before, high values of the indicator are needed to keep such moves going.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> floats around $47.7k, down 3% in the last seven days. The below chart shows the trend in the price of BTC over the past five days:<\/p>\n
\"Bitcoin<\/p>\n
BTC's price has continued to drop off in the past few days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Unsplash.com, charts from TradingView.com, Arcane Research<\/pre>\n","protected":false},"excerpt":{"rendered":"
Data shows that Bitcoin trading volume has started dropping off, suggesting that the recent downtrend might be diminishing. Bitcoin Trading Volume Sharply Drops Off In The Past Week As per the latest weekly report from Arcane Research, the BTC 7-day average trading volume has significantly reduced recently. The “trading volume” is an indicator that measures the total amount of Bitcoin transacted on the chain during a particular period. When the value of this metric goes down, it means the activity on the chain is falling off. This can imply investors are less interested in trading BTC right now as they are making less movements on the chain. Such a trend may be because investors think the price of the coin will move up soon. And hence they don’t want to move their Bitcoin at the current levels. However, it can also show disinterest in the market. On the other hand, when the trading volume rises, it means more holders are currently shifting their coins around. This kind of trend is usually the ideal ground for big price swings as you need traders for sustaining such moves. Related Reading |\u00a0Bitcoin NUPL Says Market Stands At Key Junction Between Bull And Bear Trends In the past, there have been instances where the price of Bitcoin seemed to be sharply moving towards a direction, but the chain data didn’t show any corresponding trading activity. Such moves usually died down after some time. For example, when BTC made an all-time high (ATH), the volume still remained low. Now, here is a chart that highlights the trend in the value of the BTC trading volume over the past year: Looks like the value of the indicator has recently plunged down | Source: The Arcane Research Weekly Update – Week 49 As the above graph shows, the Bitcoin trading volume saw a massive uptick earlier in the month due to the 4th Dec crash. However, in the past week, the indicator’s value has dropped off by almost 40% as the market calms down. Related Reading |\u00a0Crypto Bull Cathie Wood Says Ethereum Is More Undervalued Than Bitcoin Since August, the trading volume seems to have plateaued around the $5 billion mark, with occasional upticks to about $10 billion during the periods of high volatility. The trading volume calming down can mean Bitcoin’s recent downtrend might be starting to diminish. This is because, as explained before, high values of the indicator are needed to keep such moves going. BTC Price At the time of writing, Bitcoin’s price floats around $47.7k, down 3% in the last seven days. The below chart shows the trend in the price of BTC over the past five days: BTC’s price has continued to drop off in the past few days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, Arcane Research<\/p>\n","protected":false},"author":542,"featured_media":478975,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,7300,1119,1144],"class_list":["post-478952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-trading-volume","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Volume Dropping Could Suggest The Downtrend Is Diminishing<\/title>\n<meta name=\"description\" content=\"Data shows that Bitcoin trading volume has started dropping off, suggesting that the recent downtrend might be diminishing. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Volume Dropping Could Suggest The Downtrend Is Diminishing","url":"http:\/\/ktsl888.com\/news\/bitcoin-volume-dropping-downtrend-diminishing\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-volume-dropping-downtrend-diminishing\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/executium-tN_6BYSMrQs-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/executium-tN_6BYSMrQs-unsplash-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin trading volume","btc","btcusd"],"dateCreated":"2021-12-15T19:00:17Z","datePublished":"2021-12-15T19:00:17Z","dateModified":"2024-06-11T14:09:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Volume Dropping Could Suggest The Downtrend Is Diminishing\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-volume-dropping-downtrend-diminishing\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-volume-dropping-downtrend-diminishing\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/executium-tN_6BYSMrQs-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/executium-tN_6BYSMrQs-unsplash-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin trading volume\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-12-15T19:00:17Z\",\"datePublished\":\"2021-12-15T19:00:17Z\",\"dateModified\":\"2024-06-11T14:09:50Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/executium-tN_6BYSMrQs-unsplash-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/478952"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=478952"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/478952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/478975"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=478952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=478952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=478952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}