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Tuesday

27 July 2021

Historically low spot volumes and investor indecision weigh on Bitcoin price

Historically low spot volumes and investor indecision weigh on Bitcoin price


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A new report from Delphi Digital took a macro look at Bitcoin's current price action and found that a variety of factors, including low exchange volumes and the strengthening U.S.

Here are three areas of focus that Delphi Digital highlights as being the most impactful on the short-term price action for Bitcoin.

While the 51% drop in BTC price has many analysts afraid that another multi-year bear market could be starting, it’s important to account for some of the larger macro trends that led to the current conditions.

The above chart shows that Bitcoin had six consecutive months of price gains before a downturn and the asset was due for a pullback from a historical perspective.

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cointelegraph.com
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