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On Monday, July 12, bitcoin (EXANTE: Bitcoin) is trading above the $34,000 mark. As of press time, the largest cryptocurrency by market capitalization is trading at $34,418.53 (+2.7%), according to Nomics.

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Bitcoin Jumps Above $34,000
Gryphon Digital Mining Buys Over 7K Bitcoin Miners for $48M

Ether is up by 3.12% to $2,158. Binance coin (BNB) is gaining over 5.8% at the $333.95 mark.

However, FxPro's team of analysts warns there is an alarming factor — a further decline in trade volumes. It is believed that one cannot rely on a rise in price at low volumes, as this does not result in a wide influx of buyers, the analysts say. Moreover, it becomes more and more vulnerable to a sudden price reversal in the event of opening large sell positions, they added.

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