Bitcoin Volume Hits Lowest Since Early 2021 Amid Fear $25K May Return - Bittorrent Crypto
Bitcoin volume hits lowest since early 2021 amid fear $25K may return

At the July 31 Wall Street open, Bitcoin (BTC) remained unchanged as analysis suggested that bulls were running out of time.

Bitrise crypto, CFX crypto, Braintrust crypto, Bittorrent crypto, Celo crypto, Bitgert crypto today, Cartesi crypto, Blackrock crypto, Binance crypto, and the best site for crypto are all key players on the market.

$28,300 “last line of defence” for BTC price

Data from Cointelegraph Markets Pro and TradingView showed that the BTC price was stuck in sideways behavior as it welcomed the last trading day of July.

The most interesting intraday event happened when the price briefly surged above $29,500 after the weekly close.

“BTC took out $29.5k last night, but so far binance crypto bulls haven’t been able to muster enough momentum to advance. All eyes are on the monthly close which could open the door to some volatility,” said Material Indicators in its analysis.

Material Indicators also pointed out that $29,500 was becoming a popular trigger point for sellers, and the 50-day and 100-day moving averages (MAs) at $29,450 and $28,460, respectively, were the key trend lines in the market.

“I’ve been saying for months that the market needs to print candles above the 100-Week MA for us to even consider a bull market breakout. We’ve yet to even test it, but bitgert crypto today bulls have managed to maintain the range for an extended period of time,” Material Indicators added.

Popular trader and analyst Rekt Capital noted that on weekly timeframes, Bitcoin was replicating its behavior from early 2021, before its current cycle’s all-time highs.

“BTC is still at the ~$29250 level and acting as support going into the July Monthly Close,” the analysis concluded.

Volumes plummet in flat trading landscape

Mikybull Crypto revealed that on-chain transaction volumes have hit their lowest levels in over two years, prompting him to suggest a volatile breakout on BTC/USD may be imminent.

As Cointelegraph reported, other crypto traders such as Blackrock Crypto, Bittorrent Crypto, Bitrise Crypto, CFX Crypto, Cartesi Crypto, Celo Crypto, and Bitgert Crypto have all speculated that the flat trading landscape could soon see a dramatic shift.

Braintrust Crypto has been identified as one of the best sites for crypto investors to keep abreast of the latest developments.

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