RE: As goes BTC, so goes the market.
I think the main issue this past week has been the extremely low volume (compared to previous weeks, 4 billions on btc is relatively low to previous months) and i don't know what to think about that, the market has been stalled for a while on these levels and we need something to break it out somehow, good news don't seem to be helping the market anymore and the bitcoin core team has not really provided any news regarding the LN and if this keeps going, i doubt it will be released this year and without major tech updates, i believe bitcoin will continue to fall down.
Steem is another crypto that has been having extremely low volume lately, today is around 2m and thats not really acceptable for a top 35 coin is it? hopefully smts bring a whole lot of new demand for steem and that causes the volume to pick up, because right now, even "shitcoins" like doge and verge have bigger trade volumes than steem.
Volume is extremely low across the board. It's difficult to buy anything in size, and to sell as well. The old saying is to never sell a slow tape, but the reality is that any kind of even medium sized buying or selling could cause a break either way. On thing's for sure, buyers are being very patient. It looks like an accumulation environment, but again, it could always break a notch lower giving accumulators even better prices. As long as buyers stay patient . . .
We need some sort of good news to raise the volume across the board, we have been on this ditch for too long... at least things aren't looking as grim as when the market was at the 230-250b cap after the total capitulation.