Bitcoin has fallen again in recent days and this crash in the cryptocurrency market does not seem to have stopped for the leading cryptocurrency. BTC has ended the past eight weeks with losses and it looks set to continue this bad trend.

Given the lack of activity lately, Bitcoin is expected to momentarily end the week around the $29,000 region. Volume is another relevant factor, which has dropped by almost 25 percent since yesterday.

The leading cryptocurrency has experienced extreme volatility this month as Terra blew any hopes for a comeback. After the collapse that brought Bitcoin (BTC) to the brink of a major collapse, billions of cryptocurrencies have been wiped from the market.


But on the other hand, Bitcoin survived but consolidated in the $29k and $30,000 region. However, the metrics show that there is more to come, along with the disconcerting data. In a recent Glassnode tweet, the NVT signal was recorded at 233.9, a 4-year low. In fact, the lowest level in the previous 4 years, on May 25, it was observed that it put more pressure on the Bitcoin community.

A tweet shared by Crypto Quant caused tension in the crypto space. In the tweet; “Two or three months of boring price action. Then the final capitulation possible with an additional 30-50 percent price reduction.” His words caught my attention. This highlights the market floor discovered by the Bitcoin price chart as it struggles to break above the $30,000 level. The metric shared by Crypto Quant in his tweet is as follows:


Bitcoin (BTC) price is around $29,406 at the time of writing, according to CoinGecko data. The last 24-hour trading volume of Bitcoin (BTC) was $13,424,111,727. Bitcoin (BTC) price is up 1.1% in the last 24 hours.