• 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

2 years 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

Zcash Surges to New High as Institutional Interest Grows

chest

Zcash (ZEC) has surged to a new year-to-date high of 590, driven by significant institutional investment from Multicoin Capital.

user avatarTenzin Dorje

Sabadell Joins European Banking Consortium for Stablecoin Initiative

chest

Spanish bank Sabadell has joined the Qivalis consortium aimed at launching a Europe-pegged stablecoin.

user avatarBayarjavkhlan Ganbaatar

Ripple CEO Highlights Critical Hearing for CLARITY Act's Future

chest

Ripple CEO Brad Garlinghouse emphasizes the importance of the upcoming Senate Banking Committee hearing for the CLARITY Act's progress.

user avatarMohamed Farouk

Bitcoin Holds Steady Above 80,000 as Market Recovery is Tested

chest

Bitcoin's price remains above 80,000, indicating a recovery from March lows, with differing behaviors observed among large holders.

user avatarElias Mukuru

Gerstein Harrow LLP Files Restraining Notice Over Ethereum Linked to Kelp DAO Hack

chest

Gerstein Harrow LLP has filed a restraining notice in a New York district court, claiming legal rights to approximately 30,766 Ethereum frozen after the Kelp DAO hack.

user avatarDiego Alvarez

Aave Takes Legal Action to Release Frozen Ethereum in Kelp DAO Hack Case

chest

Aave has filed an emergency motion in a New York district court to vacate a restraining notice blocking the Arbitrum DAO from accessing approximately 30,766 Ethereum frozen after the Kelp DAO hack.

user avatarKenji Takahashi

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.