Quiet Long Weekend Keeps Bitcoin Above $30K
As the U.S. has been off for an extended long weekend, markets are soft as Asia begins its Wednesday trading day.
Bitcoin is down 1.1% to $30,807, while ether is down 0.8% to $1,939. The CoinDesk Market Index (CMI), a measure of crypto markets performance, is down 0.9% to 1,262.
Data from CoinGlass shows that while open interest continues to sustain itself at the $14.38 billion market, trading volume across the board is down, with major exchanges reporting declines between 15-20%. Liquidation volumes reflect this, with only $148,000 in positions liquidated during the last four hours, and $7.2 million liquidated in the last
Why has there been a decrease in trading volume and liquidation volumes in the past 24 hours
During the U.S. long weekend, the crypto market has remained subdued, with Asia now beginning its trading day. Bitcoin saw a 1.1% drop to $30,807, while ether also slipped 0.8% to $1,939. The CoinDesk Market Index (CMI) indicates a 0.9% decline to 1,262 in crypto market performance.
CoinGlass data reveals that open interest continues to hold at $14.38 billion, but trading volume has decreased across major exchanges by 15-20%. This decrease is also reflected in liquidation volumes, with only $148,000 in positions liquidated in the past four hours and $7.2 million liquidated in the last 24 hours.
