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Bitcoin trades in a low-volume consolidation as risk appetite steadies
ETF Trends cites about $4B per day traded on trusted exchanges and estimates modest outflows of around $150M this week after inflows last week.
Bitcoin has been stuck in a low-volume summer lull, with daily trading volumes running at roughly $4B per day on trusted exchanges, according to ETF Trends.
The outlet also notes that subdued activity is visible across equities and other risk assets, and that in thinner markets relatively small flows can move prices enough to make day-to-day volatility hard to interpret.
ETF Trends points to a macro shift that is becoming more supportive, citing weak recent US labor market data and moderating inflation, with CPI broadly in line with expectations and moving closer to the Fed’s target.
It adds that Bitcoin’s reaction has been muted at first, likely reflecting limited liquidity rather than a change in sentiment, and says the week is set to end with modest ETF outflows of about $150M after inflows last week, as investors wait for clearer monetary policy signals and data ahead of the late-month Jackson Hole symposium.
Latest closeBitcoin $64,683.90 ▲0.3%