
BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC Featured by Cointelegraph
Bitcoin (BTC) has managed to maintain its position above the $26,000 mark, even as the S&P 500 fell to a three-month low and the U.S. dollar index reached a new high for the year. This resilience is a somewhat positive indicator, suggesting that there is not much aggressive selling taking place at lower price levels.
Currently, Bitcoin finds itself trading within a range, with a lack of clear direction causing many traders to stay on the sidelines. According to recent research from an on-chain analytics platform, Bitcoin’s daily spot exchange transactions surged past 600,000 in March, but have significantly declined to between 8,000 and 15,000 last week. This drop in liquidity can potentially lead to significant price swings in either direction. Therefore, traders are advised to exercise caution and wait for confirmation before acting on intraday breakout signals.
In summary, while Bitcoin remains above crucial support levels, the current market environment is characterized by low liquidity and indecisiveness. Traders should be vigilant as the situation could change rapidly.