Compared to the previous month, Bitcoin is now at a lower trading volume than before and it is dwelling in a stable range. The altcoins on the other hand are drawing attention in the crypto market. Recently, BTC price ranged at $33,782 which is 2.5% higher than the last 24 hours. The price of the cryptocurrency is showing a stable range between $32,341 to $34,715. According to the hourly chart for BTC’s price, the market investors are expecting a bullish price action.
In the meanwhile, Ripple Labs’ XRP and meme coin DOGE took a greater jump over in the previous week in comparison to the major cryptocurrencies like Ethereum and Bitcoin.
According to an executive of Efficient Frontier Andrew Tu, the dip in the volatility is hinting at a broader change in the market for those digital assets.
Recent Price Action Of Bitcoin
On Monday, the trading volumes of Bitcoin marked at $2.6 billion which is quite below the average volume of the previous month i.e. $4.8 billion. But the recent trading volume is considered to be in a stable range if compared with the average volume of the last three months which was at $2.7 billion.
According to Andrew Tu, the market is hinting at a bullish momentum in near future.
Effect Of SushiSwap In DEX Market
Recently, SushiSwap is showing good growth when it hit a 23% all-time-high in the Decentralized Exchange market (DEX). According to the head of OneBit Quant, Peter Chan, Uniswap and SushiSwap is getting benefit from the recent upheaval of the cryptocurrency market.
As the experts are expecting Bitcoin to take a bullish price action soon, the DEX market is witnessing the surge of SushiSwap recently.
