Bitcoin Trading Volume Reaches Multi-year Low – Is BTC Lacking a Clear Direction?

In recent times, Bitcoin has experienced a significant reduction in trading volume, reaching its lowest level, in terms of dollar value, since March 2019 according to Santiment. This downturn is noteworthy as it provides insights into the current state and potential future movements of the cryptocurrency market.

The world’s largest cryptocurrency, Bitcoin, has seen its trading volume drop to levels not seen since March 2019. According to data from Santiment, the 24-hour trading volume for Bitcoin fell below $10 billion on September 26, 2023 for the first time in over 4 years.

The decline in trading volume indicates waning interest and activity among Bitcoin traders and investors. This comes as Bitcoin is struggling to maintain prices above $27,000 after reaching highs of nearly $69,000 in November 2021.

Source: Santiment – Start using it today

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Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.