Bitcoin failed to surpass the 92,000 USDT resistance level last week, as the cryptocurrency market experienced its lowest trading volume since July. The total market capitalization reached approximately $3.1 trillion, marking a 4% increase from the previous week, but the average weekly trading volume fell to $127 billion, 32% below the mean.
Bitcoin's weekly trading volume was $59.9 billion, 31% below the average, while Ethereum's volume was $21.1 billion, 43% below the mean. Ethereum's network fees were at the 5th percentile, reflecting low on-chain activity. In the derivatives market, Bitcoin's futures funding rate increased to 4.3%, with open interest decreasing by $1.1 billion to $29.7 billion. Conversely, Ethereum's funding rate rose to 20.4%, with open interest climbing $900 million to $16.2 billion.
Bitcoin Struggles at 92,000 USDT Resistance Amid Low Trading Volume
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