Market News / Story
Bitcoin's Rally Ran on Thin Volume: Is a Cascade to $81,000 Next?
Benzinga ·
Benzinga reports: Bitcoin pushed through the $85,000 resistance wall but failed to hold the breakout , with Glassnode data flagging mounting risks that could threaten the sustainability of BTC’s rally. Why Couldn’t Bitcoin Hold The Breakout? Glassnode noted several concerning factors for Bitcoin in its report published Wednesday: Thin trading volume: Spot exchanges and U.S. ETFs are averaging $6.8 billion daily, below roughly 90% of trading days since January 2024. Weak breakout: Sunday’s…