Data shows the Bitcoin trading volume has continued to remain at low levels this week, weakening the latest rally in the crypto’s price. Bitcoin Spot Trading Volume Has Recently Stabilized At Low Values As per the latest weekly report from Arcane Research, the BTC spot volume has continued to stabilize at relatively low values this week. The “daily trading volume” is an on-chain indicator that measures the total amount of Bitcoin being transacted on the network on any given day. When the value of this metric goes up, it means a higher number of coins are moving on the chain at the moment. This shows that the network is turning more active as investors become more interested in the crypto. On the other hand, a decrease in the Bitcoin volume suggests market activity is dipping down. Such a trend may imply that the general interest around the coin is low right now. It can also mean investors are waiting for the price to reach a certain level before they make their move. Related Reading | Bitcoin Monthly Outflows Reach Historically High Value Now, here is a chart that shows the trend in the BTC trading volume over the past year: Looks like the value of the indicator has been moving sideways recently | Source: Arcane Research's The Weekly Update - Week 13, 2022 As you can see in the above graph, the Bitcoin trading volume has stabilized since a while now, and this week looks to have continued that trend....
Pi Coin Price Prediction For March 8
