In the past 24 hours, the market has become very busy, activity has more than quadrupled! Liquidity and participants have also increased significantly. Trading volume has reached $70 billion, which is 418% more than before! This shows that traders are very active.
After that price drop from $83,000 to $74,000, buyers came in and pushed the price up to $77,000, as if they were trying to calm the market.
Perhaps this price drop was a bear trap.
That is, sellers deliberately lowered the price to liquidate long positions. Now that buyers have come in and the price is coming back, the high trading volume also confirms this, because it shows that the market has quickly changed direction from selling to buying. What do you think?
