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Bitcoin continued its correction and during today's Asian trading session reached a new level of $105,000. Ethereum also dropped significantly but was quickly bought back, stabilizing around $2,425.
Meanwhile, the daily volatility of the cryptocurrency market continues to decline. According to recent data, the monthly spot trading volume on centralized exchanges fell to its lowest level since September 2024, while trading volumes on decentralized platforms continue to grow.
This trend reflects a fundamental shift in investor preferences, driven by several factors: concerns over security and transparency on centralized platforms are prompting users to shift toward decentralized alternatives. A wider range of tokens and assets offered by decentralized exchanges (DEXs) is attracting traders seeking new opportunities. Innovative scaling solutions and user-friendly interfaces make DEXs more accessible to a broad audience.
In June, spot trading volume on centralized exchanges amounted to $1.07 trillion, down from $1.47 trillion in May. Notably, this volume has been gradually declining since the recent peak of $2.94 trillion in December last year, representing a 63.6% drop.
In contrast, according to DefiLlama, DEX trading volume reached a record $390 billion in June. After a local high in January and a decline, the volume began recovering in May and continued into June. Spot DEX-to-CEX trading volume ratio rose to a new record high of 29%, indicating growing interest in decentralized platforms. The DEX-to-CEX futures trading volume ratio also hit a new all-time high of 8% in June.
Regardless of the platform, trades are being executed, signaling continued development and positive momentum in the crypto market.
As for the intraday strategy in the cryptocurrency market, I will continue to rely on major dips in Bitcoin and Ethereum, anticipating a continuation of the medium-term bull market, which remains intact.
For short-term trading, the strategy and conditions are outlined below.
Scenario #1: Buy Bitcoin today at the entry point near $106,300, targeting a rise to $107,100. Exit at $107,100 and sell on the rebound. Before buying on a breakout, confirm that the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.
Scenario #2: Buy Bitcoin from the lower boundary of $105,800 if there is no market reaction to a breakout, targeting $106,300 and $107,100.
Scenario #1: Sell Bitcoin today at the entry point near $105,800, targeting a drop to $105,100. Exit at $105,100 and buy on the rebound. Before selling on a breakout, confirm that the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.
Scenario #2: Sell Bitcoin from the upper boundary of $106,300 if there is no market reaction to a breakout, targeting $105,800 and $105,100.
Scenario #1: Buy Ethereum today at the entry point near $2,435, targeting a rise to $2,463. Exit at $2,463 and sell on the rebound. Before buying on a breakout, confirm that the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.
Scenario #2: Buy Ethereum from the lower boundary of $2,418 if there is no market reaction to a breakout, targeting $2,435 and $2,463.
Scenario #1: Sell Ethereum today at the entry point near $2,418, targeting a drop to $2,377. Exit at $2,377 and buy on the rebound. Before selling on a breakout, confirm that the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.
Scenario #2: Sell Ethereum from the upper boundary of $2,435 if there is no market reaction to a breakout, targeting $2,418 and $2,377.
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