Analysis: Bitcoin’s rising momentum still lacks key support, and the recovery of spot trading volume has not accelerated yet
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Odaily Planet Daily News Encryption analyst Darkfost said on the $4 billion to $8 billion.
Darkfost analysis pointed out that when Bitcoin hit a stage low in July, spot trading volume also fell to the lowest level since the last bear market, reflecting the weakest market interest in BTC in the past three years. Since then, spot trading volume has picked up, but there has been no significant recovery. Generally speaking, moderate growth in spot trading volume is accompanied by a new round of upward momentum for Bitcoin, but if BTC wants to challenge new highs, the market still needs to further increase spot trading volume, especially new demand.
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