Bitcoin (BTC) and select altcoins are showing signs of some buying near support levels. According to Arcane Research, the seven-day average real Bitcoin trading volume has dropped to the lowest level since July 2021. During the previous instance, the sharp drop in volume marked a bottom and led to a strong rally from August to October 2021.
However, Bloomberg Intelligence senior commodity strategist McGlone warned in a recent podcast that risk assets may correct as the United States Federal Reserve increases rates and reduces asset purchases.