Bitcoin’s steady performance attributed to low liquidity and minimal spot volume

2023-4-7 12:00

Quick Take Bitcoin has maintained a stable price below $30,000 for the past few weeks. Many reasons this has occurred; whales and long-term holders are offloading Bitcoin while other cohorts continue accumulating. Derivatives are fairly muted and with a neutral bias, while risk-on sentiment disappears. Most importantly, liquidity continues to suffer after banking collapses with SVB, Signature, and Silvergate Bank. While spot volume is at one of the lowest levels for almost 15 months, which shows little appetite for investors. However, this could change with the jobs report coming out later and CPI next week. Liquidity: (Source: Kaiko) Spot Volume: (Source: Swissblock)

The post Bitcoin’s steady performance attributed to low liquidity and minimal spot volume appeared first on CryptoSlate.

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