Over the past week, the trading volume of the BTC/USDT pair has seen a sharp decline, both in the spot and futures markets, particularly on Binance, the world’s largest cryptocurrency exchange.
This drop in trading volume on centralized exchanges, which play a crucial role in providing liquidity and balancing supply and demand, has left the market in a vulnerable position. Currently, with reduced demand and lower buying power, Bitcoin's ability to counteract selling positions and mitigate sell pressure is much weaker compared to previous weeks.
Given the current market conditions, it is advisable to exercise extra caution and avoid making impulsive decisions. Even small shifts in buying or selling pressure could lead to significant volatility in the Bitcoin market.
Written by Crazzyblockk
