• 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

K Bank Partners with Ripple for Blockchain Remittance Testing

chest

K Bank has entered a strategic partnership with Ripple to explore blockchain-based overseas remittances.

user avatarMiguel Rodriguez

Market Expert Analyzes XRP's Potential Rally

chest

Market expert Sam Daodu analyzes the critical factors for XRP's potential rally towards $10, emphasizing the need for regulatory clarity and institutional investment.

user avatarLuis Flores

Divergence Between SP500 and Crypto Market Raises Concerns

chest

The report by Will Taylor from The Weekly Insight notes a significant breakdown in correlation between the SP500 and total crypto market capitalization over the last 161 days, raising concerns about potential market shifts.

user avatarArif Mukhtar

Ethereum Surpasses 2,300 Amid Record Active Addresses

chest

Ethereum's price has climbed back above 2,300, with a notable increase in active addresses reaching an all-time high.

user avatarMaria Gutierrez

Rising Channel Pattern Emerges for Bitcoin

chest

A key Rising Channel pattern has formed on the Bitcoin 4-hour chart, indicating a potential uptrend.

user avatarAndrew Smith

Reflecting on 15 Years of Bitcoin Since Satoshi Nakamoto's Introduction

chest

Reflecting on the legacy of Bitcoin's creator, Satoshi Nakamoto, as the 15th anniversary approaches, highlighting the importance of his untouchable holdings and the need to carry forward his vision within the community.

user avatarDavid Robinson

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.