Bitcoin is currently in a consolidation phase in the Region of US $ 9,000. In this Region, Bitcoin is traded since yesterday, where the buyer and seller are at an impasse, since the uptrend has stalled.
This consolidation has led to a decline in the Trading volume of the Benchmark crypto-currency, which was previously soared over a multi-week period in the height.
It also seems that the consolidation, investors increasingly nervous, as it is unclear in which direction the crypto-currency in the coming days and weeks could develop.
Bitcoin looks bullish Trading volume with the beginning of the consolidation phase
Suffered at the beginning of this week, Bitcoin is a immense volatility, which was triggered by the movement of 50 BTC from a previously inactive Wallet from the year 2009.
This came about when BTC was traded by 9,800 $ and a sharp decline in triggered, brought the Coin to lows at 8,800$. From this time to the buyers on rose and allowed the Bitcoin, its long-held Position within the 9,000-Dollar Region to recover.
Important: In the last few weeks, Bitcoin has reached a series of lower highs since he joined the 10,000 USD on several hard rejections, which have slowed its dynamism.
This lackluster price action has led Bitcoin to a decline in the Trading volume.
A recent report from Arcane Research, the Trading volume is now in decline, after it had achieved in the past week, the previous highs for the Year.
“After the 7-day average of the real Trading volume was depressed in the past week to the highest level of the year 2020, has decreased the volume this week a little. However, we now see much more Trading activity than in the previous month, which is a healthy Signal in the market“.
Data of Arcane Research
This coincided with a decrease in the realized volatility and seems to be symbolic for a change of mood among market participants.
With the declining dynamism of the investor grows-fear
Bitcoins downturn has led to investors is to become the basis of the cryptocurrency becoming increasingly anxious.
The fear and greed Index is that investors are not in this week yet more and more anxious as BTC manages to skip the $ 10,000. Arcane has also addressed, and a diagram, which shows the rates in the last few weeks, observed with growing Anxiety.
“The fear and greed Index is now down to 42, and the market is following another foray into a neutral state, anxious. This means that the market is more or less the same level as a week ago, after he was no longer able to press the second week in a row over $ 10,000.“
Data of Arcane Research
If Bitcoin will have to fight in the coming days and weeks, continues to so hard to push upwards, will continue the Trend that investors are becoming increasingly anxious, probably.