Bitcoin and Altcoin Trading Volume Declines Indicating Lower Investor Interest
On-chain data indicates a recent decline in trading volume for Bitcoin and altcoins, suggesting waning trader interest.
Key Points
- Trading volume measures the total amount of a cryptocurrency traded across exchanges in 24 hours.
- Recent analytics from Santiment reveal a downward trend in trading volume despite market volatility.
- The peak trading volume occurred late last month, coinciding with price declines, which typically attract more trading activity.
- Ongoing decreases in trading volume may hinder sustainable price recoveries for Bitcoin and other cryptocurrencies.
- To achieve a healthier recovery, rising prices and trading volumes are necessary; currently, cautious sentiment prevails.
Current BTC Price
Bitcoin is trading at approximately $82,900, having decreased over 9% in the past week.