Over the course of the weekend, the volume of some of the major cryptocurrencies and the rest of the market has been significantly increasing. To put a number to it, $10 billion to $13 billion. The leading cryptocurrency, Bitcoin has seen a good increase in volume too with $3.1 billion to $4.3 billion within one week by more than 40%. Being led by the positive movement in price from Bitcoin and itâs notable increase in volume, the value of other major digital currencies like Cardano, TRON and Stellar have increased by up to 5%. Even Ripple has jumped by almost 12% over the past day, which has almost doubled its volume to $800 million from $400 million. A popular cryptocurrency trader and technical analyst, DonAlt believes that Bitcoin is currently biased to the bulls supported by an increase in volume over the last several days. Nevertheless, in order to confirm a strong short-term movement, Bitcoin will have to break out of the $6,500 region with comfort to potentially test the $6,800 resistance mark which it has broken before during the early days of August this year to September. According to DonAlt:
â[Bitcoin is] in a very clean trading range. This is what Iâm currently looking at and why I donât really see much reason to be bearish.âOn three of the most regulated and strictly compliant crypto to fiat exchanges based in the US - Gemini, Kraken and Coinbase - Bitcoin has been trading at around $6,390 but canât seem to break out of its rut. As said by CCN, while the sideways market of Bitcoin is affecting major digital currencies and tokens (in a good way), in order for Bitcoin to initiate a rally in the same magnitude as the movements portrayed by Bitcoin Cash, Ripple, Ethereum and Stellar earlier this week, a clever and smooth transition out of the $6,500 will be required. The startling surge in volume and price of big digital currencies and small market cap cryptocurrencies demonstrate the willingness of investors to take high risk, high return trades despite uncertainty in the market. Newfound optimistic views towards the market are caused by different significant developments including the Bakkt Bitcoin futures market launch December. What are your thoughts? Let us know what you think down below in the comments!