Bitcoin Trading Volumes Plummet: What the Decline Means for Future Prices

According to a recent analysis by CryptoQuant’s expert Axel, the aftermath of the LUNA crash has had a pronounced impact on the **average weekly trading volume** of the **BTC/USD** pair on centralized exchanges (**CEX**). This volume has seen a significant decline, tapering from a notable high of **2.9 million coins** in July 2022 to a mere **426,000 coins** during the latest trading session reported. While some may interpret this trend as a negative development, it could indicate a **long-term bullish sentiment**. A reduction in available supply on exchanges often leads to upward pressure on prices, suggesting that this trend might ultimately reinvigorate **Bitcoin** valuations as market participants adjust their strategies. Stakeholders should monitor these shifts closely, as they may provide critical insights into the evolving landscape of cryptocurrency trading.