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With the DCG being one of the largest venture capital funds in the ecosystem, the prospect of shady fund management and the potential for another high-profile bankruptcy is causing crypto investors to take a wait-and-see approach before putting more money into the market. Data from TradingView shows that Bitcoin bulls attempted to push the top crypto above resistance at $17,000 near midday but were soundly rejected by bears, which resulted in Bitcoin’s price pulling back to support at $16,800.
According to the analysts, “The current stale price action is reflected in BTC’s volatility, which has slumbered toward rare lows, evident by the 7-day volatility in BTC, reaching lows not seen since July 2020. The dwindling volatility is accompanied by spot volumes drying up and the futures market reigning in a flat regime.”
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