{"id":653259,"date":"2024-11-15T18:00:42","date_gmt":"2024-11-15T18:00:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=653259"},"modified":"2024-11-15T11:05:09","modified_gmt":"2024-11-15T11:05:09","slug":"bitcoin-volume-crashes-27-price","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-volume-crashes-27-price\/","title":{"rendered":"Bitcoin Volume Crashes 27% As Price Falls, What Does This Say About The Decline?"},"content":{"rendered":"

The Bitcoin volume has experienced a severe crash amidst its <\/span>initial price momentum<\/span><\/a>, falling by approximately 27% and triggering a subsequent decline in the value of the pioneer cryptocurrency. This significant drop in volume has caught the attention of market participants, as a crypto analyst is discussing the mechanics and significance of a decline in Bitcoin and whether it indicates a <\/span>Distribution or Accumulation phase<\/span><\/a>.\u00a0<\/span><\/p>\n

Bitcoin Price Falls As Volume Plummets 27%<\/h2>\n

Data<\/span><\/a> from CoinMarketCap has revealed that the daily <\/span>trading volume of Bitcoin has crashed<\/span><\/a> 26.46%, pushing the value to $85.89 billion. This significant decline in the Bitcoin volume coincides with a broader correction in the cryptocurrency\u2019s price.\u00a0<\/span><\/p>\n

Related Reading: Here Are The Factors That Could Drive The Dogecoin Price To $1 This Bull Market<\/a><\/div>\n

In the last 24 hours, BTC has experienced a price pullback to $87,848, as of writing. The cryptocurrency was previously <\/span>trading above $90,000<\/span><\/a>, but has recently declined by 2.87%. This plummeting volume often indicates a <\/span>reduced market interest<\/span><\/a> or lack of enthusiasm. However, this may not be the case for Bitcoin, as the cryptocurrency has been experiencing high market activity due to the just-concluded US Presidential elections that resulted in a <\/span>Donald Trump win<\/span><\/a>.<\/span><\/p>\n

The more likely reason for the decreased volume could be a <\/span>market consolidation<\/span><\/a>, where the price of Bitcoin could stabilize before a potential breakout. Supporting this, a crypto analyst, \u2018Personal Trader,\u2019<\/span> stated<\/span><\/a> that the market has entered a phase of decline, where Bitcoin could enter its last <\/span>correction period<\/span><\/a> before moving toward the $100,000 milestone.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

BTC Price Decline May Indicate A Distribution Or Accumulation Phase<\/h2>\n

Given the recent <\/span>decline in Bitcoin price<\/span><\/a> and volume, a crypto analyst identified as \u2018IonicXBT\u2019 has taken to X to identify and<\/span> discuss<\/span><\/a> the significance of this decline using two main trends exhibited in a Bitcoin market cycle: the Accumulation and Distribution phases.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Price Could See Swift 175% Surge As DOGE\/BTC Pair Records Major Breakout<\/a><\/div>\n

\u00a0<\/span><\/p>\n

The <\/span>Accumulation phase<\/span><\/a> is when smart money, including investors or institutions, starts to <\/span>buy Bitcoin<\/span><\/a>. During this phase, prices tend to be low or have stabilized after a decline. Additionally, <\/span>Bitcoin\u2019s trading volume increases <\/span><\/a>in the same period as buyers step in to push prices higher. Moreover, every upward price movement tends to showcase a strong volume, indicating increased buying pressure.\u00a0<\/span><\/p>\n

In contrast, the Distribution phase is when smart money are <\/span>selling or distributing their Bitcoin<\/span><\/a>. During this phase, prices may have peaked or are being seen as overvalued. The volume of BTC rises while its price falls, signaling <\/span>intense selling pressure<\/span><\/a>. Moreover, price spikes accompanied by low trading volume suggest a weak buying interest, a red flag that indicates that smart money are exiting the market.\u00a0<\/span><\/p>\n

Based on these Bitcoin phases, IonicXBT has revealed that he will call the <\/span>Bitcoin market top and bottom<\/span><\/a> soon. The analyst has shown that Bitcoin is currently not in its distribution phase, which means it is still a \u201cbuyer’s market,\u201d suggesting the potential for future price increases.\u00a0\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price struggling at $89,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin volume has experienced a severe crash amidst its initial price momentum, falling by approximately 27% and triggering a subsequent decline in the value of the pioneer cryptocurrency. This significant drop in volume has caught the attention of market participants, as a crypto analyst is discussing the mechanics and significance of a decline in Bitcoin and whether it indicates a Distribution or Accumulation phase.\u00a0 Bitcoin Price Falls As Volume Plummets 27% Data from CoinMarketCap has revealed that the daily trading volume of Bitcoin has crashed 26.46%, pushing the value to $85.89 billion. This significant decline in the Bitcoin volume coincides with a broader correction in the cryptocurrency\u2019s price.\u00a0 Related Reading: Here Are The Factors That Could Drive The Dogecoin Price To $1 This Bull Market In the last 24 hours, BTC has experienced a price pullback to $87,848, as of writing. The cryptocurrency was previously trading above $90,000, but has recently declined by 2.87%. This plummeting volume often indicates a reduced market interest or lack of enthusiasm. However, this may not be the case for Bitcoin, as the cryptocurrency has been experiencing high market activity due to the just-concluded US Presidential elections that resulted in a Donald Trump win. The more likely reason for the decreased volume could be a market consolidation, where the price of Bitcoin could stabilize before a potential breakout. Supporting this, a crypto analyst, \u2018Personal Trader,\u2019 stated that the market has entered a phase of decline, where Bitcoin could enter its last correction period before moving toward the $100,000 milestone.\u00a0 BTC Price Decline May Indicate A Distribution Or Accumulation Phase Given the recent decline in Bitcoin price and volume, a crypto analyst identified as \u2018IonicXBT\u2019 has taken to X to identify and discuss the significance of this decline using two main trends exhibited in a Bitcoin market cycle: the Accumulation and Distribution phases.\u00a0 Related Reading: Dogecoin Price Could See Swift 175% Surge As DOGE\/BTC Pair Records Major Breakout \u00a0 The Accumulation phase is when smart money, including investors or institutions, starts to buy Bitcoin. During this phase, prices tend to be low or have stabilized after a decline. Additionally, Bitcoin\u2019s trading volume increases in the same period as buyers step in to push prices higher. Moreover, every upward price movement tends to showcase a strong volume, indicating increased buying pressure.\u00a0 In contrast, the Distribution phase is when smart money are selling or distributing their Bitcoin. During this phase, prices may have peaked or are being seen as overvalued. The volume of BTC rises while its price falls, signaling intense selling pressure. Moreover, price spikes accompanied by low trading volume suggest a weak buying interest, a red flag that indicates that smart money are exiting the market.\u00a0 Based on these Bitcoin phases, IonicXBT has revealed that he will call the Bitcoin market top and bottom soon. The analyst has shown that Bitcoin is currently not in its distribution phase, which means it is still a \u201cbuyer’s market,\u201d suggesting the potential for future price increases.\u00a0\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":650372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-653259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news","geo-restriction-bitcoin","geo-restriction-bitcoin-news","geo-restriction-bitcoin-price","geo-restriction-btc","geo-restriction-btc-news","geo-restriction-btc-price","geo-restriction-btcusd","geo-restriction-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Volume Crashes 27% As Price Falls, What Does This Say About The 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