Bitcoin loses momentum on October 16 as volume drops below average
- —Price at $81,352.22 — 35.51% below the all-time high of $126,149
- —Daily volume of $25.73 billion is 16.05% below the 30-day average
- —RSI at 45.3 and a bearish MACD point to weak short-term momentum
- —Price trades below SMA-7, SMA-15 and SMA-30 but above SMA-50
Why it matters: The muted move on thin volume does not confirm a reversal — a recovery needs a reclaim of short-term averages with rising volume.
Source: DiarioBitcoin