Bitcoin SV gained 14% in the past day as trading volume increased, with Asian investors emerging as the primary driver of the rally. According to CoinMarketCap data, the Upbit exchange accounted for the majority of BSV trading volume across centralized and decentralized exchanges, representing $38 million in traded volume at the time of reporting.
Asian investors' activity on major global exchanges including Binance and OKX also contributed to the broader volume surge. Typically, a rise in trading volume alongside price gains signals strong market momentum.
Capital Flows Show Mixed Signals
Despite the price advance, capital flow data reveals warning signs. In perpetual markets, roughly $1.60 million in net outflows exited the market in the past day, following $23.35 million in asset sales by investors taking profits.
Spot market activity showed a similar pattern. The spot market netflow was positive at $558,020 as investors moved $3.33 million worth of BSV into exchange wallets, typically indicating preparation for selling. Sustained outflows of this nature could pressure the price in the short term.
Bullish Sentiment Supports Price
Market sentiment for BSV remained significantly bullish at 5.11 on a scale ranging from -10 to 10, according to CoinMarketCap. Long positioning dominated the perpetual market's $59.82 million in open interest, with the OI-weighted funding rate at 0.0051%, reflecting moderately bullish conditions.
