Down by 2% : The Huobi BTC market saw some bearish action last week (September 16 - September 22).
The analysis of last week’s price action shows that the Huobi BTC market is in the bearish phase since the price has been moving downward. The volatility of HBTC has been low throughout the reviewed period in correspondence with the price action. The market capitalization of the asset has been decreasing in concert with the price of the coin. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
The price action of Huobi BTC is in a stalemate due to low volatility during the observed period. The data derived from our credible sources shows that the average volatility of HBTC didn't exceed 0.02%, which is indicative of weak price action. In the period between September 16 and September 22, the volatility of the coin peaked at 0.02%. The quietest period on the asset's market was recorded on September 20, when the volatility dropped to the minimum at 0.02%. The low volatility of 0.02% means that the crypto coin is weak and incapable of any sizable price swings.
The bears were dictating the terms on the Huobi BTC market on September 16 - the trading session opened at $19 889. The price action of the coin remained on September 17 as the pushed the price up by 2%. The cautious traders dominated the price action on September 18, with the Huobi BTC market remaining flat. On September 20, HBTC market moved by 3% in the bearish direction in concert with the trading volume. Huobi BTC finalized the trading day of September 20 at $18 747 after opening it at $19 351, though the price broke through that corridor to hit the 24H high at $19 625 and the 24H low at $18 747. The activity on the crypto coin's market on September 21 resulted in the asset being traded between $19 111, the open of the day, and $19 654, the close of the day; at some point, the price spiked to the daily high at $19 654 and briefly dropped to the daily low at $18 788. The coin's market saw no changes on September 22, as the market flatlined. The asset posted the weekly low at $18 332, while the top of the weekly trading session was registered at $20 234. Huobi BTC shaped the $388 price range over the week of price action, which constituted the 2% gap between the weekly low and the weekly high.
Huobi BTC ’s average trading volume on the opening day of the observed time period, September 16, stood at $227 658, while on the closing day of the same period, it moved to $617 169. In order to have a better grasp of the HBTC market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $126 318 to $455 373. The 10% trading volume fluctuation between September 16 and September 22, as compared with the previous period, served as a basis for a 2% price move.
Huobi BTC had its total market capitalization change from $769 625 907 on September 16 to $355 655 437 on September 22, the end of the examined time frame. HBTC experienced a 54% change in total market capitalization throughout the past seven days. While the market capitalization of the coin was altered by 54%, its price has made a 2% change. During the week before the analyzed time frame, the market capitalization of Huobi BTC moved by 3% as it went from $758 653 531 to $784 760 186, and gave a better understanding of the general direction in which this market is flowing.