• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
picture of bitcoins floating in the air, depicting bitcoin trading volume increasing
Advertisement

Bitcoin Rally To $40K Sparks Return Of Trading Volume

Best Owie by Best Owie
2 years ago
in Bitcoin
0
Advertisement

Bitcoin has recently seen a massive rally for the past two weekends, giving rise to an increase in trading volume. Following a long period of low prices in the market. The recent rally has reignited a number of things in the market. Now including the trading volume, as volumes bounce back to levels before the decline. Trading volumes saw a huge spike in the three days following the price rally. Which saw trading volumes returning to June levels between July 26th and July 28th.

But now, the trading volume has once again hit a roadblock. As volumes have now continued to decline after hitting a peak on July 28th. The last four days have seen the trading volume of Bitcoin decline. Coming hot on the heels of a price dip that saw the price crashing again. After hitting the $42,000 mark, now crashing back down below $40,000.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Related Reading | Square To Acquire Afterpay And Allow Bitcoin Purchases

Trading volumes that usually follow the asset price have not deviated from this trend. The better part of the month of July saw Bitcoin hit record lows as the digital asset struggled in the market. The price rally of Bitcoin ignited hope for a bounce back. But it is now becoming more evident that the bounce-back would not last as long as speculated.

Trading Volumes Pick Up Momentum

Bitcoin trading volumes had seen continuously low numbers before the rally. Daily sub-$3 billion trading volumes during weekends were the norm for four weeks straight. This low streak was ended with the weekend rally. Which had pushed the daily trading volumes over $4 billion each day. Closing the weekend at around $4 billion following the weekend push.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Related Reading | Cash App Bitcoin Revenue Rose 200% In Q2 As Demand Grows

As last weekend drew closer, trading volumes for the digital asset continued to climb. Moving up north of $6 billion as trading picked back up. The high prices of bitcoin following the weekend saw more interest in the digital asset. As investors and traders alike poured back into the coin. The market had recently moved out from “extreme fear” last week. Showing favorable trends in the movement of the asset.

chart from Arcane Research showing Bitcoin trading volume over the years

Bitcoin price see increased trading volume following price rally | Source: Arcane Research

With the increased momentum came increased trading rates. Sentiments continue to skew towards the positive for the digital asset. Although the declining prices of bitcoin could be a cause for concern when it comes to maintaining these volumes.

Bitcoin Price Movements

Bitcoin’s price rose according to the trading volumes. As there usually is not one without the other. The price of the asset had broken the dreaded $40,000 resistance point during the weekend. Rallying up to as high as $42,000 before changing direction towards a downward trend. Closing out the week-long uptrend in the market.

Related Reading | The Metric That Says China Bitcoin Mining Migration Is Complete

The price of the digital asset had fallen back below $40,000 as the new week drew in. Monday saw the price of bitcoin weaving in and out of the $39,000 range. Before settling on a little above $39,224.88.

Tuesday has so far continued the same downtrend. Dragging the price of bitcoin down below its closing $39,000. Putting the current price of the digital asset in the low $38,000. Its current price putting the price of the digital asset at a $1,000 loss in the last 12 hours.

Bitcoin price chart from TradingView.com

BTC price lost over $1,000 in 12 hours | Source: BTCUSD on TradingView.com
Featured image from CoinMod, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Best Owie

Best Owie

Related Posts

New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

1 hour ago
Bitcoin Derivatives Markets Volumes Show Bullish Trend After 2022 Downturn

Bitcoin Derivatives Market Volumes Show Bullish Trend After 2022 Downturn

1 day ago
Bitcoin

Sri Lanka Central Bank Says Bitcoin Cannot Solve Economic Crisis

1 day ago
tulip mania bitcoin

Celebrating The Tulip Mania Anniversary With Bitcoin & Crypto

2 days ago
Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

2 days ago
Bitcoin

Why Bitcoin Is Among ‘Hottest Subjects’ On Earth, According To ‘Rich Dad’ R. Kiyosaki

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Crypto Is Here to Stay. Here’s Why You Should Invest...

    5 hours ago
  • Dogecoin (DOGE) and Shiba Inu (SHIB) Bounce While Snowfall...

    5 hours ago
  • Avalanche (AVAX), Gala (GALA), and Orbeon Protocol (ORBN)...

    8 hours ago
  • As Bitcoin And Filecoin Continue To Rise, The Most...

    1 day ago
  • Which Cryptocurrencies You Should Buy – Big Eyes...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.