The concerns of $100 billion and below volume levels, which the cryptocurrency market volume experienced at $111 billion, are over. In a few days when the Bitcoin price started to rise, the market cap reached a value of 120 billion dollars again, and investors said that their confidence in the market increased with the increase in the market volume of cryptocurrencies, whose value has risen again. The fact that the Bitcoin price remained in the normal equilibrium process for a few days and somehow kept the $3,600 level during this balance period was the price balance that prevented investors from losing confidence in the market and prevented the current problems in the market.
Bitcoin price determines the market volume
If the price of Bitcoin, which is the most important factor determining the market volume, suddenly rises, it is possible for the market volume to reach 140 billion dollars in a few hours. At the same time, if the Bitcoin price depreciates, it may be possible for the market volume to reach 99 billion dollars and below in a few hours. they think that the depreciation of the market cap creates an open crypto money market.