Stagnation in Crypto Markets: Low Volume, Unclear Direction
Recently, there has been a noticeable decrease in trading volume in the cryptocurrency markets. Investors seem to have created an atmosphere as if they are "on vacation" without breaking their positions. Especially the low volume on exchanges is preventing the expected rebounds in altcoins. On the Bitcoin side, although demand stemming from ETFs continues, the recovery of volume is critical for an upward breakout in the market.
Volume Insufficient in Bitcoin, Momentum Weak
Although Bitcoin's price movements carry clues for the future, the market is currently quiet and cautious. The current stagnation indicates that a consolidation process is continuing rather than a breakout.
According to the assessment of crypto analyst Kyle:
"The rise of Bitcoin to $111,000 is not supported by a strong increase in spot volume. Daily volume is currently around $7.7 billion; this is far behind previous bull periods. Momentum is weak, and speculators are quiet. Therefore, the movement seems more like a pause than a rise."
The horizontal price movements observed at the end of June may continue into the early days of July. Especially the holiday period in the US and global economic uncertainties may prolong the atmosphere of waiting in the market.
Cautious Movement in Altcoins: Close Look at ETH and LINK
With Bitcoin's fluctuations, small pullbacks are also observed in altcoins. However, so far, a widespread panic atmosphere has not been created. Investors are cautiously watching the market.
The Total Altcoin Market Cap is maintaining its local support, but a clear direction has still not been determined. Technical indicators imply that a higher low has formed compared to the low levels set in April. However, for a long-term upward trend to be confirmed, resistances above $950 billion need to be broken.
LINK (Chainlink): Analyst Waleed states that if LINK breaks the resistance levels of 17.96 and 22 dollars in the short term, the price could target $23.39.
Ethereum (ETH): Analyst Mister Crypto points out the Wyckoff accumulation model, stating that ETH could move towards a new all-time high.
General Outlook: The Wait Continues, Eyes on Breakpoints
Despite the low trading volume in the market, investors' interest in technical levels has increased. Especially if the volume rises again and specific resistance levels are broken, a stronger and more enthusiastic period may begin in the market.
For now, however, the chart shows that the search for direction continues and investors are in a cautious wait.
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