Bitcoin Volume Continues To See Yearly Lows As Price Struggles To Recover

News BTC

Bitcoin’s seven-day average trading volumes have continued to remain low, as the seven-day average trading volumes only reaching $3 billion. This comes on the heels of the digital asset seeing declining volatility in the market. The bitcoin trading market had seen a marked shift in trends as the average trading volumes remain at yearly lows.

This trend follows the trend seen in trading volumes from last summer. Bitcoin volume had also remained low last summer, and this summer so far has followed the same trend. Bitcoin trading volumes had seen a small recovery after a dip in June when crypto trading volumes were down all across the board. But now, volumes have continued to plummet.

How To Get Free Crypto  

Related Reading | Retail Traders Pile On Shorts, Is This The Bitcoin Bottom?

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin’s daily trading volume had hit its peak towards the end of May and the beginning of June before recording a sharp decline in its trading volume in the market.

Bitcoin Volatility Continues To Decline

Bitcoinist had reported back in June that the digital asset’s volatility levels had declined to the lowest levels since the bull run had begun back in 2020. So far, there has not been much change since the report had been posted. Bitcoin volatility continues to follow the dipping price of the digital asset, which has continued to stagnate since the crash started after hitting a new all-time high.

Get 110 USDT Futures Bonus for FREE!
BTC total market cap back up above $600B | Source: Market Cap BTC on

According to Arcane Research, volatility levels continue to decline on a seven-day basis. The seven-day average for the digital asset’s volatility reached 1.68% for the past week. Seven-day volatility levels have not been this low since October of 2020 and fall in step with volatility levels from last summer.

For the past month, volatility has shown downwards movement. Speculations remain that at the end of this volatility drought is a period of extreme volatility that would come with a recovery in the price of the digital asset. But there has been no significant recovery since the report came out.

Coinbase Banner  

Price Setup For Recovery

The continuous lows of bitcoin volatility have converged toward the end of a two-month consolidation range. With this setup, a spike is imminent at this critical level for the digital asset.

Bitcoin’s momentum has slowed down significantly and the bears look to have a stronger hold on the price than the bulls. The asset came close to falling to the next critical support level at $28,500 after the price crash below $30,000. Although the digital asset has since recovered and is not trading back up past $31,000.

Related Reading | Bitcoin Crashes Below $30,000, Bear Market Or Bullish Setup?

A bounce on current support levels could see a continuation of the $32,000 consolidation level. This would be a resistance level that traders would be keeping a close eye on.

A price correction back above the $32,000 support level is imminent as the price is poised for recovery. But the market would need to see significant momentum for the digital asset to achieve this.

FreeBitcoin Banner  

The market cap of bitcoin has recovered to over $600 billion, as the market continues to see price corrections.

Featured image from USA Today, chart from

Go to Source
Author: Best Owie

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.