• 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
    • Gambling
    • 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
  • Play Finance
Breaking News: Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • 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
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin
Advertisement

“Significant Uptick” In Bitcoin Spot Buying Volume Suggests Sustainable Rise

Hououin Kyouma by Hououin Kyouma
1 year ago
in Bitcoin
0
Advertisement

Data shows the latest rise in Bitcoin’s price is accompanied by a significant uptick in the trading volume. This could suggest that the current uptrend may be sustainable.

Bitcoin Trading Volume Climbs Up Fast This Week

As per this week’s Arcane Research report, the BTC trading volume is climbing up fast this month after a relatively slow last few days of September.

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

The “trading volume” indicator highlights the total amount of Bitcoin transacted on the network. An increase in the metric’s value would suggest that activity on the blockchain has risen, while a decrease implies little movement of coins by holders.

Here is a chart that shows the daily trading volume for BTC after taking a 7-day average of it:

Bitcoin Trading Volume

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!
The BTC trading volume over the last year | Source: The Arcane Research Weekly Update - Week 40

As the above graph shows, after some inactivity towards the end of September, the Bitcoin network seems to have awakened.

Related Reading | Bitcoin FOMO: On-Chain Data Suggests Big Accumulation Going On

For the first time in three months, the daily volume crossed $10 billion on 6th October. The current 7-day average volume is around $6.3 billion.

What Does The Indicator Say About BTC Price?

The trading volume is an important metric when looking for whether the crypto can sustain its price increases or not.

The metric showing high values implies investors are looking to change their positions in the market and newcomers are also entering into the network.

Related Reading | Bitcoin Eclipses Trillion-Dollar Market Cap on Equity ETF Approval – Crypto Weekly Roundup, October 11, 2021

This activity leads to higher volatility, which can mean larger price swings for Bitcoin. Therefore, such an environment is suitable for sustaining price moves.

On the other hand, lack of proper trading volume can mean investors aren’t interested in the coin at the moment. This kind of situation can result in the price moving sideways, and if the crypto tries to make a big move, it quickly falls apart.

The last few months had several moves where there wasn’t any trading activity, but BTC was moving up. Those moves either didn’t last much, or were quickly supported by a rise in the volume.

The current high trading volume is a good signal for Bitcoin’s latest rally. If the volume keeps up, BTC could possibly push for a new all time high (ATH) soon.

At the time of writing, BTC’s price floats around $55.1k, up 4% in the last seven days. Over the past month, the crypto has accumulated 23% in gains.

The below chart shows the trend in the value of Bitcoin over the last five days:

Bitcoin Price Chart

BTC's price shows some downtrend after a large move up where the coin crossed $57k | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, Arcane Research
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Bitcoin and crypto this week

Bitcoin And Crypto Face These Key Dates In The Week Ahead

5 hours ago
Bitcoin Hashrate Hits 400 EH/s As Miners Profit From Bull Market

Bitcoin Hashrate Hits 400 EH/s As Miners Profit From Bull Market

2 days ago
bitcoin Tim draper

Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin

2 days ago
Bitcoin

Bitcoin, Other Cryptos See $360 Million Sold Off In Single Day – Here’s Why

3 days ago
Shuttered Crypto Bitzlato Exchange Allow Users To Get 50% Of BTC Funds

Shuttered Crypto Exchange Bitzlato Opens Withdrawals For Users

4 days ago
Crypto and Bitcoin

Crypto Liquidations Hit $291 Million As Bitcoin Shows Volatility

4 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Betnomi Affiliate Program 2023

    15 mins ago
  • Tremendous Growth in TMS Network (TMSN), While...

    1 hour ago
  • TMS Network (TMSN) Unveils Innovative Ideas for the Future...

    1 hour ago
  • TRON (TRX) and Tether (USDT) Fail to Impress Investors, TMS...

    2 hours ago
  • Chainlink (LINK) And Cosmos (ATOM) Holders Are Boosting...

    4 hours 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
    • Gambling
    • 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
  • Play Finance

© 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.