Such a big movement and there are no volumes of large ....What can it say?
There are almost no sellers on the market.It remains to collect the crumbs.
We all panic and cut loss is the right answer, no volume no profit we can get. Many trader/ investor fix their strategy by cut loss not easy for them but they don't have any reason to keep stay. There's no buy or hold anymore because every day the price goes down. Our asset doesn't have value anymore, don't complaint just leave the market.
Volume is even worse right now. People are afraid to get into bitcoin right now, even people who wants to sell and get out are afraid of the price going back up and correct itself one day and the people who hold are afraid the price will go down even further and no one really wants to buy bitcoin unless they are huge whales.
The volume being so low brings a lot of troubles with it because when a rich whale like Craig decides to sell all their coins the market collapses a lot faster because of the low volume.
When the volume is 25 billion dollars and someone throws in 500 million dollar worth of bitcoin nothing really happens because thats daily change in the volume but when it is 2 billion dollars like right now it kills all the possible moves and makes it go down in lightning speed.