BTC bullish breakout?
As per CNBC report,
It is noted that BTC has Lowest Volume participation in Last 4 Years.
"The U.S. regulatory crackdown on crypto combined with the end of the banking crisis in May (which accounted for much of its year-to-date gains) drove market makers and traders away – and they haven't had a reason to return"
But after US 10 years bond yields report,
It is acting like Catalyst.
In amid uncertainty of global market, this sudden movement in the BTC price has been Observed.
It is likely to retraced back since volume participation is not much to an expectation.
Need to see if it hold above the upper trend line.
It is noted that BTC has Lowest Volume participation in Last 4 Years.
"The U.S. regulatory crackdown on crypto combined with the end of the banking crisis in May (which accounted for much of its year-to-date gains) drove market makers and traders away – and they haven't had a reason to return"
But after US 10 years bond yields report,
It is acting like Catalyst.
In amid uncertainty of global market, this sudden movement in the BTC price has been Observed.
It is likely to retraced back since volume participation is not much to an expectation.
Need to see if it hold above the upper trend line.
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