Every day I pay attention to the trend of trading volume. Recently, although the price increase has been quite good, the trading volume has not shown a significant upward trend; instead, it has merely maintained a relatively low level compared to the past year. Therefore, the current $BTC price is not based on a substantial increase in purchasing power, but rather on a decrease in turnover and a reduction in sell-offs.
This situation indicates that Bitcoin's ability to withstand bearish pressure is relatively weak. Once there is a slight increase in selling volume, the price increase will be limited. Thus, the current BTC price is driven by events and emotions, and the reduction in selling is mainly due to the rising expectations of most investors regarding the future.
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