BTC spot trading volume is starting to tick higher, albeit below January highs, according to CoinDesk data.
Still, futures market data continues to suggest a neutral/bearish bias among traders.
Technical indicators have improved over the past few days, suggesting a strong buying zone between $40,000 and $46,000.
In other news, BlackRock, the world’s largest asset manager, is preparing to offer a cryptocurrency trading service to its investor clients, sources say.
Congress to provide his agency with an additional $100 million so it can properly oversee crypto markets.
High values in buy volume indicate short-term buying pressure and high investor attention, according to CryptoQuant, a crypto data firm.
“Limited liquidity may have contributed to the rising bitcoin price as outsized buying orders in thin order books tend to push up prices,” Arcane Research wrote in a report this week.
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