• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Hits $55,000 Despite Decreasing Exchange Activity

user avatar

by Giorgi Kostiuk

a year ago

  1. Bitcoin Price Increase
  2. Exchange Trading Activity
  3. Technical Indicators


    4. Bitcoin has once again reached the psychological $55,000 mark amid declining exchange activity. The cryptocurrency is up 0.9% over the past 24 hours, despite recent fluctuations and bearish market sentiment.

    Bitcoin Price Increase

    At the time of writing, Bitcoin is trading at $55,000. Earlier, on September 8, the cryptocurrency briefly dropped to an intraday low of $53,650, which was due to bearish market sentiment.

    Exchange Trading Activity

    Bitcoin's daily trading volume increased by 33%, reaching $22 billion. According to data from Santiment, 68,470 BTC flowed into exchanges on September 7, before plunging below the $54,000 mark. Over the past two days, the asset's inflows have decreased by 68%, currently sitting at 21,742 BTC. Similarly, the number of Bitcoins leaving exchanges has also dropped by 65%, from 65,847 to 22,802 BTC.

    Technical Indicators

    Despite the rise above the $55,000 mark, Bitcoin's Relative Strength Index (RSI) remains at 35. This indicator shows that the cryptocurrency is still oversold, which could be due to the market-wide selloff.

    Despite the current surge, the Bitcoin market remains volatile, and analysts continue to monitor changes in exchange activity and technical indicators.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Potential Changes in Bitcoin Derivatives Markets Following CLARITY Act

chest

Market expert MartyParty highlights that the CLARITY Act could lead to significant changes in Bitcoin derivatives markets, enhancing CFTC authority and encouraging institutional participation.

user avatarZainab Kamara

Crypto Investment Funds Face Continued Outflows Amid Market Slowdown

chest

Crypto investment funds have faced a fifth consecutive week of net outflows, totaling approximately $4 billion over five weeks, with a significant decline in trading activity.

user avatarAyman Ben Youssef

Blockchain Association Unveils New Tax Principles for Digital Assets

chest

The Blockchain Association has introduced a framework to guide lawmakers on digital asset taxation as discussions around the CLARITY Act continue.

user avatarSon Min-ho

Market Leverage Ratio Declines, Indicating Reduced Speculative Positioning

chest

The Estimated Leverage Ratio in the crypto derivatives market has sharply declined, suggesting a reduction in speculative positioning and a calmer market environment.

user avatarTando Nkube

Castle Labs Warns of Overbuilt Crypto Market

chest

Castle Labs warns that the cryptocurrency market is overbuilt, with most tokens likely to lose value unless they demonstrate real business traction.

user avatarKofi Adjeman

Bitcoin Mining Difficulty Rebounds, Indicating Network Resilience

chest

Bitcoin mining difficulty has rebounded after a brief dip, indicating renewed miner participation and confidence in Bitcoin's long-term viability.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.