0310 GMT - Bitcoin edges lower in Asian trade. The cryptocurrency has traded around $64,000 for the past month, highlighting how quiet the market has become, K33 Research analysts say. Average daily spot volume fell another 18% last week and volatility hit near three-year lows. "A slow market gives traders very little reason to participate," they say. While traders appear reluctant to take a clear position in either direction, sellers appear increasingly exhausted. Long-term holders are gradually absorbing coins again, K33 says. Still, bitcoin remains weak relative to other assets, with no clear catalyst on the horizon to draw capital back into the market. Bitcoin is trading 0.1% lower at $63,507.87.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.