The low activity of buyers coincides with a falling total market value; Nobody buys new floors



As it turns out, traders in the digital currency market believe that prices will continue to fall deeper, so refrain from new purchases on the top floor. Two key indicators also somehow confirm this hypothesis.

According to the Kevin Telegraph, the chart of the total market value of digital currencies is 24 days, which is in a downward trend. Available data show that the chart again reached $ 1.65 trillion in support on May 6 and is testing it. The total market value of digital currencies reached 1.65 trillion dollars when the price of bitcoin fell to its bottom in the last 70 days, ie. $ 35,550.

The low activity of buyers coincides with a falling total market value;  Nobody buys new floors?
The total market value of digital currencies is billions of dollars.

The total market value of all digital currencies has fallen by 6% in the last seven days. However, this slight adjustment does not apply to coins that have a moderate market value and have lost 19% (or more) during this period.

During this time, altcoins suffered the most

In the last seven days, the price of bitcoin has fallen by 6.5 percent and the price of Atrium by 5 percent. In addition, altcoins have experienced a situation that can only be called a bloodbath. In the photo below you can see the currencies that have had the biggest growth and the biggest decline in the last seven days. It is worth mentioning that these tokens are selected from 80 major digital currencies on the market.

The low activity of buyers coincides with a falling total market value;  Nobody buys new floors?
The biggest growth and the biggest decline in the last seven days among the top 80 currencies on the market.

The price of the digital currency Tron rose by about 26.9% after TRON DAO released the decentralized stable currency “USDD” on May 5 (May 15). This stable coin algorithm connects to the China Atrium and Foreign Exchange (BNB) via the BitTorrent Intermediate Protocol (BTTC).

The price of the 1-inch digital currency also rose 5.6 percent when the total number of transactions on this decentralized exchange in the Paligan network exceeded 6 million.

The price of STEPN, the natural token of an application that attracted a large number of consumers with the idea of ​​”making money by walking”, increased by 70% between 18 and 28 April (29 April to 8 May). by 7%. The price of IP Coin also fell 31.4% after rising 94% between April 22 and 28 (May 2-8).

Signs of a decline in the first-class tetra index

The OKX Exchange Tetra Premium Index measures the difference between the price of Tetra in Peer-to-Peer transactions in China at the current value of the US dollar (yuan).

Tetra’s excessive demand pushes the index above 100%. On the other hand, during a downtrend, Tetra’s demand decreases and the Tetra Premium Index is 4% or more than the 100% level (moving down).

The low activity of buyers coincides with a falling total market value;  Nobody buys new floors?
Premium index of OKIX Exchange.

OKIX’s stock market index peaked at 101.7 percent on April 30, showing excessive demand from retailers. However, as you can see in the image above, this index reached 100% over the next five days.

It is worth mentioning that the mentioned index reached 99% in the first trading hours on May 6 (May 6). These data show that the mood of small traders has deteriorated with the fall in the price of bitcoin below $ 37,000.

Futures markets show different emotions

Perpetual futures contracts, known as reverse exchanges, have a fixed fee, the rate of which is usually updated every 8 hours. Exchanges use this variable fee, called the funding rate, to balance transaction risk.

A positive rate of return on capital means that traders in long positions use more leverage, and a negative position indicates that traders in short positions have such a position.

The low activity of buyers coincides with a falling total market value;  Nobody buys new floors?
7-day funding rate for standing futures contracts in various digital currencies.

As you can see in the image above, the weekly accrued funding rate for Bitcoin and Atrium is slightly positive. These data show that buyers “demand is slightly higher than sellers”, but this is not something that forces traders to close their trading positions. For example, a positive percentage of 0.15 percent per week equals 0.6 percent per month; As a result, it is unlikely to harm the market.

On the other hand, the weekly rate of capital supply of permanent futures for altcoins is almost negative 0.30%. This percentage is equal to 1.2 percent per month and shows greater use of leverage in transactions with shorts (sellers).

Given that the premium index shows that demand from retailers is low, and also given the negative capitalization of coin operators, traders are reluctant to make new purchases in a market with a total value of 1.65 trillion dollars in the key area. In general, buyers seem to think that the price of digital currencies is falling even more and are reluctant to enter the market. Therefore, it can be said that digital currencies are likely to face deeper price adjustments.

After low activity of buyers coincides with falling total market value; No one buys new floors appeared first in Arzdigital.

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