|BTC Price: $6,433
Last 7 Days: -0.70% 1month: -2.16% 12months: -15.91%
As mentioned above in the weekly comment, BTC has seen a pick up in volume in the last 7 days and now all eyes are on the SEC to see what the announcement is re: ETF’s. The recent lower price volatility on Bitcoin has been indicative of market indecision and whilst it has been welcomed by some as indicative of a “maturing” of the sector, for many it is more of a reflection of a market that is desperate to know the immediate fate of the ETF question. In order to see confirmation of a positive short-term movement, we will need to see a push through $6,500 with decent supporting volume. Having said that, if the ETF news is positive then we would envisage a stronger movement upwards both short and longer term is on the cards.
29th October: $3,551,330,000 (BTC price of $6,479)
5th November: $4,268,532,164 (BTC price of $6,433)
20.19% increase in trading volume in the last 7 days