Hi Guys,
It's Big & Big #alert About Crypto Exchanges Volume Falls !!!
Crypto exchange volume falls as BTC traders slow down: What now?
Investors had shown little interest for Bitcoin in Q3 as crypto exchange volume fell and selling pressure surged.
Since early August’s massive sell-off, Bitcoin [BTC] has struggled to stay above $60K. The muted price action has persisted in the first half of September.
According to a Glassnode report, this weak price action has led to a “reduced trading appetite” from BTC traders. Part of its latest report cited low crypto exchange volumes and read,
“We can see that the monthly average volume has fallen well below the yearly.
This underscores a decline in investor demand and less trading by speculators within the current price range.”
The report added that a crypto exchange is center of price discovery and speculation activity. So, a contracting volume on this front signaled weak demand from BTC traders and investors.
BTC selling pressure intensifies
Glassode also noted that the spot market witnessed overall sell pressure in August and the entire quarter.
Using the spot CVD (Cumulative Volume Delta), which tracks the net balance between buy and sell volumes, the metric was overwhelmingly negative in Q3.
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