Bitcoin exchange volume tracks 5-year lows as Fed inspires BTC hodling
Bitcoin spot exchange trading volumes have disintegrated since March, while BTC price action has gone barely anywhere, research shows. Bitcoin (BTC) exchange s have seen trading volume collapse as traders deal with constant macroeconomic uncertainty. According to new research from on-chain analytics platform CryptoQuant published on Sept. 25, daily BTC volumes are at lows rarely seen since 2018. Fed keeps Bitcoin investors wary of “possible recession” Bitcoin price action has stayed in a familiar range for several months, and as time goes by, interest in transacting appears to be fading. CryptoQuant data, which tracks activity on both spot and derivatives exchange s, highlights the extent to which volume s have decreased since BTC/USD entered its current range in March. The past week saw between 8,000 and 15,000 daily spot exchange transactions — a fraction of the standard March daily tally, which exceeded 600,000. For contributing analyst Caue Oliveira, a principal force behind th...