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The data in the chain show that bitcoin and the Altcoins have seen their commercial volume recently, a sign that the merchant's interest in the market is decreasing.
The negotiation volume is fallen throughout the cryptocurrency sector
In a new one <a target="_blank" href="https://x.com/santimentfeed/status/1899970954824212664″ target=”_blank” rel=”nofollow”>mail In x, the Santiment chain analysis firm has discussed how the negotiation volume for the various assets in the cryptocurrency sector has changed.
The “commercial volume” here refers to a measure of the total amount of a given currency that was involved in commercial activities in all exchanges during the last 24 hours. This metric should not be confused with the “volume of transactions”, which monitors the amount involved in transfers through the network, including pairs (P2P) operations.
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When the negotiation volume value is increasing, it means that investors participate in more operations in exchanges. Such a trend implies that interest in cryptocurrency is increasing.
On the other hand, the indicator that presents a decrease suggests that merchants may be paying less attention to the currency, since the number of their movements are lowering.
Now, here is the table shared by the analysis firm that shows the trend in the bitcoin negotiation volume and the various upper altcoins during the last month:
As is visible in the previous graph, the negotiation volume throughout the sector reached a peak at the end of last month, which means that investors participated in a large number of specific movements related to bitcoin and Company.
The increase in commercial activity occurred when the prices of the various assets observed a fall. In general, the market tends to come alive in volatile periods, as merchants rush panic movements, either to sell or buy. As such, the increase in volume would make sense.
While volatility has continued in recent weeks since then, however, the volume has been curiously after a downward trajectory. Without a doubt, there have been diverted peaks, but the general trend has remained in the direction down.
“When the volume of commerce for the main cryptocurrencies constantly falls, even during the slight recoveries of price (as we have seen on Wednesday), it usually points to the decrease in the enthusiasm of the operators,” explains Santiment.
Historically, price movements have generally required that a certain level of interest of investors be sustainable. This is because only when a large number of investors perform operations that move like this can obtain the fuel they need to continue.
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Therefore, with the participation of the merchant apparently reaching exhaustion, it is possible that bitcoin and other assets cannot gather any manifestation of lasting recovery.
“To point out a healthier and sustainable recovery, bulls will generally want to see both the increase in prices and the increase in volumes simultaneously,” explains the analysis firm. “Until the commercial activity increases significantly, it is likely that the feeling of the cautious market is likely.”
btc price
At the time of writing this article, bitcoin quote around $ 82,900, more than 9% in the last week.
Outstanding image of Dall-E, Santiment.net, TrainingView.com graphics
(Tagstotranslate) Altcoin trade volume
