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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