Bitcoin Trading Volumes Reach Highest Level Since June

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• Trading volumes have started heating up in the crypto markets.
• BTC peaked at its highest level of trading since June 14, 2022.
• BTC is currently trading at $18,771.41 after a 6.65% drop in price.

The blockchain analysis firm, Santiment, took to Twitter (NYSE:TWTR) on September 28 to make an announcement about some of Bitcoin’s (BTC) statistics. According to the post, trading volumes have started heating up in the crypto markets, and especially for BTC.

Bitcoin Trading Volume (Source: Santiment)

During BTC’s slight drop on Tuesday of this week, the crypto market leader peaked at its highest level of trading since June 14, 2022. Ever since, BTC’s trading volume has been steadily climbing after bottoming out in late January.

Bitcoin / Tether US 1D (Source: CoinmarketCap)

According to the market tracking website, CoinMarketCap, BTC is currently trading at $18,771.41 after a 6.65% drop in price, which landed it on the website’s trending list for today.

When looking at the longer time frames, BTC is down 1.71% over the last seven days and down just over 5% of the past month. BTC did, however, strengthen against its biggest rival, Ethereum (ETH), by around 0.54% over the last day..

In terms of market cap, BTC is currently standing at $360,273,946,755, and at the time of writing, BTC’s 24 hour trading volume was up more than 10% to stand at $55,759,771,114.

When looking at BTC’s daily chart, we can see that the BTC price is once again in a tassel with the 9-EMA (Exponential Moving Average) line. In addition to this, the Relative Strength Index Indicator (RSI) line has crossed below the SMA line, which could be a negative sign for the crypto market leader and investors might need to brace for further losses.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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