Market Wrap: Bitcoin Bounce Pauses on Low Volume

Posted on by American Coins & Gold

Market Wrap: Bitcoin Bounce Pauses on Low Volume
Bitcoin (BTC) traded lower on Wednesday after a brief price bounce over the past two days. Buying activity has been weak following the January sell-off, which is why some analysts remain uncertain about BTC’s short-term price direction.Market indicators such as volatility and trading volume remain low, indicating a lack of conviction among crypto buyers and sellers. “Bitcoin’s seven-day volatility is now at the lowest level since November 2020,” Arcane Research stated in a report. The firm expects short-term rises in volatility to remain limited as BTC trades in a tight range.Still, a BTC breakout above $40,000 or breakdown below $30,000…