Analysts Say Bitcoin Trading Volume Remains Low

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The average daily volume of Bitcoin transactions in the spot market has remained low during the past week.

According to Arcane Research analysts, the activity of traders is weakening. If turbulence does not return to the market in the coming days, the trading volume will stick to the current downward trend.

The result of the weakening of investor interest in the crypto will eventually affect its price. Yesterday, the asset fell below $43,000 for the first time since March 24.

Then the crypto bounced back, and last night it was trading at around $43,500. According to the company analysts, the pullback trigger was the lack of sufficient strength for Bitcoin to overcome resistance in the $47,000 area.

The nearest resistance is expected to be around $43,800. According to Glassnode, the fall in the value of the cryptocurrency is observed against the backdrop of an increasing outflow of BTC from exchanges. During the month, more than 97,000 coins have been withdrawn from crypto trading platforms.

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