The crypto market has been thrown into a euphoric state over the last 24 hours as the price of Bitcoin has surged once more. In its latest run, the digital asset was able to retest the $29,000 resistance before being rejected but continues to hold up nicely above $28,000. This time around, dominance from US investors has been on the rise, suggesting that they may be the leaders of this rally.
US Bitcoin Trading Volume Rises To 44%
The trading volume from US investors fell to a low 29% back in January and the uncertain regulatory headwinds did not much help investor sentiment. However, this has quickly changed with US investors taking advantage of the low prices presented last week when BTC fell below the $25,000 resistance.
A report from Kaiko shows that US investor BTC trading volume has risen sharply compared to its January figures to 44% in June. This shift in Bitcoin trading volume suggests that investors are moving back toward BTC and leaving altcoins behind once more.
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