Crypto analysts indicate that there has not been enough volume behind the recent price movements in Bitcoin, and this situation lacks the momentum necessary for new peaks. Kyle particularly pointed out the low trading volume, stating that it may be difficult for BTC prices to set new records in the near term.

Kyle stated, "The rise of Bitcoin from $107,594 to $111,000 lacked solid spot volume support. The daily trading volume is currently around $7.7 billion; this is significantly below previous bull peaks. This does not appear to be a breakout, but rather a pause." According to the analyst, economic uncertainties need to decrease, especially at the beginning of July, for the market to regain momentum.

Hope for an Uptrend in Altcoins, But Volume is Essential

On the altcoin front, the overall outlook is cautious. Analyst Waleed, who shares his expectations for LINK Coin, pointed out the short-term resistance levels of $17.96 and $22, stating that his ultimate target is $23.39.

On the other hand, by evaluating the total altcoin market cap (TOTAL) chart, DaanCrypto commented, "It's hard to talk about a sustained uptrend without the market surpassing the $950 billion resistance." According to him, although the higher low seen last week is a positive sign, it is necessary to exceed this level. DaanCrypto stated, "However, at this stage, more confirmation is needed to determine a clear direction."

Holiday Week and Political Uncertainties May Affect the Market

Due to the July 4th Independence Day in the USA and the half-day on July 3rd, market volumes may be low this week. During such periods, low liquidity can lead to sudden fluctuations. Analysts also state that Donald Trump's political rhetoric could also have an impact on the crypto market.

While ETF Demand Continues, Spot Volume Shortage Draws Attention

While the continued demand in ETF channels stands out as a positive development, it is emphasized that there should be an increase in volume, especially in spot markets, to see real rallies. The current weak volume environment indicates that many investors are holding their positions but are not actively trading. This stands out as one of the main reasons for the lack of direction in the market.


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