Bitcoin is under pressure at 92000 USDT, and the market volume is at its lowest level since July.

Odaily News According to 10x Research, the crypto market recorded the lowest trading volume range since July last week, with Bitcoin encountering resistance again around 92000 USDT. Despite the high probability of interest rate cuts, the price failed to break through this key resistance level. The report shows that the total market capitalization of crypto is approximately 3.1 trillion USD, rising 4% from the previous week, with an average weekly trading volume of 127 billion USD, which is 32% lower than the average. Among them, Bitcoin's weekly trading volume is 59.9 billion USD, 31% lower than the average; Ethereum's weekly trading volume is 21.1 billion USD, 43% lower than the average, with network fees (0.05 Gwei) at the 5th percentile, reflecting low on-chain activity. In terms of derivation, the funding rate for Bitcoin futures rose to 4.3%, at the 20th percentile of the past 12 months, with open interest decreasing by 1.1 billion USD to 29.7 billion USD; the funding rate for Ethereum rose to 20.4%, at the 83rd percentile, with open interest increasing by 900 million USD to 16.2 billion USD. Currently, the open interest for Bitcoin and Ethereum futures accounts for 56% and 72% of their market capitalization, respectively.