BTC Trading Volume Plummeted Like Never Before, Almost Crashing to the Ground

Crypto News – Crypto researcher Cauê Oliveira‘s assessment of the market’s spot trading volume for BTC was recently shared by Crypto Quant.

BTC Trading Volume Plummeted Like Never Before, Almost Crashing to the Ground

The crypto expert said in the research that Bitcoin spot trading volume has fallen to a six-year low. According to the research, this week’s transaction volume varied between 8 and 15 thousand daily transactions.

Causes of the Decline According to Cauê Oliveira

The crypto analyst makes note of many causes for this decline.

One of the main reasons cited is the growing fear regarding the macroeconomic scenario. The actions of the United States Central Bank perpetuate a constant feeling of uncertainty, leaving investors waiting for a possible recession.

Cauê Oliveira

Furthermore, evidence shows that traders are more inclined to hang onto their cryptocurrencies for a long time than to sell them quickly for a tiny profit. This may be a sign that investors expect the cryptocurrency market to soar in the next few years, bringing in enormous returns over a long period of time.

In the meantime, throughout the course of the past week, the leading cryptocurrency had a huge decline of 3.66%. BTC was slightly more expensive than its $26.140.06 beginning price for the week at the time of writing, according to CoinMarketCap, where it was transacting at $26,145.24.