The post Bitcoin Faces Volatility Amid Rising Transaction Activity And Key Developments appeared on BitcoinEthereumNews.com.

As Bitcoin hovers just above $66,000, notable activity is observed in the transfer of unique tokens between wallets. Recently, 244,000 BTC were circulated in a single day, marking the highest level since March 5th. This uptick in Bitcoin activity suggests a gradual return of utility to levels last seen during the Q1 bull run. 📊 As Bitcoin ranges just north of $66K, take note of the rising level of unique tokens being transferred between wallets. 244K BTC circulating in a single day was the most since March 5th. Utility is gradually returning back to levels last seen during the bull run in Q1. 👀 pic.twitter.com/uaze6557DE — Santiment (@santimentfeed) July 31, 2024 The increase in Bitcoin outflow could signal potential price movements, hinting at a possible breakout from the current fluctuation zone. On the hourly chart, the TD Sequential indicator previously signaled a correction before Bitcoin’s drop from $70,000 to $65,500. Increasing withdrawal of #Bitcoin from exchanges “The increase in Bitcoin outflow can be a positive sign regarding the possibility of price increase and break-up of the fluctuation area in the future.” – By @CryptoOnchain Full post 👇https://t.co/IgbJPy2EzV pic.twitter.com/Cioymgn2Gf — CryptoQuant.com (@cryptoquant_com) July 31, 2024 Currently, it is presenting a buy signal, which might indicate a potential rebound if Bitcoin can maintain an hourly close above $66,300. This development could catch many BTC bears off guard. On the hourly #Bitcoin chart, the TD Sequential accurately signaled a correction before $BTC dropped from $70,000 to $65,500. Now, it’s presenting a buy signal, suggesting a potential rebound if #BTC can sustain an hourly close above $66,300. pic.twitter.com/2PjdKreBxy — Ali (@ali_charts) July 30, 2024 Volatily Expected In The Crypto Market In The Next Few Hours Volatility is expected to rise as Bitcoin approaches the FOMC meeting and the Federal Reserve’s rate decision. Notably, if…

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Filed under: News - @ August 1, 2024 3:08 am