That is always true, even at much higher volumes. The lower volume is because mt.gox is losing its dominance and fiat from mt.gox takes a long time to appear on other exchanges, so they can't take up the slack yet.

I think it is a very encouraging sign that we are apparently managing the shift in exchange importance without any major crashes. After all, BTC move much faster, and could easily crash the price to lower levels. Luckily the mt.gox price still has too much credibility for that. 

OK summary time:

-Asks are dropping
-Bitstamp Orderbook is looking better every hour
-We are still at 125, though on low volume, nothing pulled it back this time
-Low Volume german exchange bitcoin.de: availaible Coins steadily decreasing
-Recent Good news not priced in yet ( i think)
-No Apocalypse regarding the dwolla issue
-Another spike in Chinas interest this week (yeah i wouldn't call it a hype either, but you get the idea)

Bullish to me, see you at the top.

We just broke the highest price of the last 7 days.

It will be interesting to see what happens at Bitstamp, with those HUGE ask walls.

Is everyone assuming that these other low volume unproven exchanges will function perfectly when under very heavy load, DDOS attacks, order book spam, withdrawal transaction spam, etc, etc ?

If so then I'm afraid people are going to be sorely disappointed when the same old problems that MtGox experienced happen all over again with each new exchange that becomes popular.

As far as I'm concerned the only platform that's been real world load tested so far is MtGox.

bitstamp: everything short of the 120.0BTC wall just got bought up (wall is 350BTC).

Yes, there are still huge ask walls on bitstamp, but they got reduced by something like 2000BTC in the last 24hours. So there is definitely a lot of fiat pouring in. It just isn't sitting in the order book (which would be extremely stupid anyway, looking as how it can be used to buy cheap coins instead   ).

And I am watching bitstamp on bitcoinity: those walls aren't being retracted - they really are being bought!

And "tiny" is the wrong adjective at least for bitstamp: It is handling around 25% of all BTC trading volume by now.

Right. Which is what I am saying. 

Yes, you are right.
I was thinking of the bids that were put up recently, opposing the huge asks we have there, effectively weakening the selling pressure a bit.

Unfortunately I dont have any recent data and I might be proven wrong.

Still

I think a subtle rise to 130 is imminent. Expect it to happen in the next 2 hours.
I am also curious about how the spread between the exchanges will play a role in the next movements.
I think its too early to state that Bitstamp might take over, Gox still has credibility and only time will show if people are eager to test another exchange for its limits.

Disclaimer: I have no fiat on the exchanges, I made a 20 BTC purchase @ 87€ a couple of days ago for spending within the next weeks, so of course a steady rise would be appreciated

With such a low volume, we should go well above $130 to welcome a new uptrend. Let's see how strong is the bull's hope.

Yep, $126 wall being chewed ATM.

The last few days the price moved up when volume increased, went down when it decreased.

That's a good sign for the bulls. Buyers may get impatient.