Bitcoin records massive volume spike; End of bear market in sight?
The cryptocurrency sector seems to finally be getting a moment of respite after a chaotic period for most of its assets
In terms of forming the bull cycle top, a similar volume pattern was noted between January 11, 2021, and May 17, 2021
Specifically, Bitcoin is changing hands at the price of $16,536, representing a gain of 5.20% over the previous 24 hours
Although it is still a 1.08% decline across the week and a 14.86% loss on the month
A bottom formation of the bear cycle coincided with a volume rise in the period from November 19, 2018, and May 13, 2019
Bitcoin recorded “the strongest weekly volume in more than a year, fueled by the collapse of FTX,”