On September 28, Santiment, a company that conducts blockchain analyses, announced some data related to Bitcoin (BTC) on Twitter. The post claims that trading volumes, particularly for BTC, have accelerated in the cryptocurrency markets.

BTC reached its highest trading level since June 14, 2022 during Tuesday of this week’s week, when the cryptocurrency market leader experienced a minor decline. After bottoming out in late January, BTC’s trade volume has been gradually increasing ever since.

BTC is currently trading at $18,771.41 according to market monitoring website CoinMarketCap after a price decline of 6.65% that put it on the website’s trending list for today.

BTC has decreased over the previous week by 1.71% and over the past month by slightly over 5% when looking at longer time frames. However, during the past day, BTC has grown more competitive with Ethereum (ETH), its greatest opponent.

BTC’s market capitalization is at $360,273,946,755, and as of the writing of this article, its 24-hour trading volume was up more than 10% to $55,759,771,114.

On the daily chart for BTC, we can observe that the price of the cryptocurrency is once again entwined with the 9-EMA (Exponential Moving Average) line. Additionally, the SMA line has crossed below the Relative Strength Index Indicator (RSI) line, which may be a bad indication for the leader of the cryptocurrency market and need investors to prepare for future losses.

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