Trading Activities in Bitcoin Show a Steep Decline

  • While the stagnation period continues to keep most crypto assets under pressure, Bitcoin (BTC) has dropped below $29,000 and recorded its lowest trading volume in history.
  • In the last 30 days, the total trading volume of the cryptocurrency was calculated to be 386,423.1 BTC or approximately $11 billion based on the current Bitcoin price.
  • Bitcoin’s current price has fallen by 2.2% in the last 24 hours, lost 3.34% in the previous seven days, and experienced a 5.35% decrease on the monthly chart according to the latest data obtained by COINOTAG on August 17.

What does the decline in trading activities in Bitcoin reflect, reaching the lowest levels in the past 5 years?

Decreasing Trading in Bitcoin

While the stagnation period continues to keep most crypto assets under pressure, it is not exceptional for Bitcoin (BTC) to be below $29,000, and the leading decentralized finance (DeFi) asset also records its lowest trading volume in history.

Indeed, the monthly trading volume of Bitcoin on leading crypto exchanges reached its lowest level in a five-year chart, according to the latest data obtained by Bitcoin analytics platform on August 17.

bitcoin-trading-volume

In the last 30 days, the total trading volume of the cryptocurrency was calculated to be 386,423.1 BTC or approximately $11 billion based on the current Bitcoin price, and it was hovering around $28,550 at the time of writing, with a 24-hour trading volume reaching $16,583,613,023 according to the latest charts.

According to an analysis, such a low trading volume for the largest crypto asset in terms of market capitalization brings several consequences, including decreasing investor interest, new volatility risks, and the possibility of stagnation.

Additionally, the analyst explained that decreasing trading activity could make it difficult to buy and sell Bitcoin at market prices, while also increasing the likelihood of price manipulation and shaken market confidence.

Current Status of Bitcoin Price

Meanwhile, Bitcoin’s current price has fallen by 2.2% in the last 24 hours, lost 3.34% in the previous seven days, and experienced a 5.35% decrease on the monthly chart according to the latest data obtained by COINOTAG on August 17.

With all these combined, the low trading volume can indeed lead to the initiation or continuation of the above indicators and at least in the short term, it can lead to further declines and a bear market for Bitcoin, with many analysts predicting new all-time highs (ATH).

BREAKING NEWS

BTC Whale Increases Leverage 13x, Adds $4.4M to BTC Long; 1070 BTC Worth $117M With $7.8M Unrealized Loss

On November 1, COINOTAG News reported, citing on-chain analyst...

Alliance DAO Co-Founder QwQiao: Crypto Market Turns Bearish as Traders Trim Positions

COINOTAG News, November 1st, reports that Alliance DAO co-founder...

USDT-Driven Multi-Asset Surge: BiyaPay Launches 0-Fee USDT Spot Trading Across US/HK Stocks and Futures Amid NVIDIA AI Boom

COINOTAG News reports that NVIDIA's Fall GTC conference, combined...

October 2025 Crypto Hacking Losses Drop 85.7% to $18.18M Across 15 Incidents, PeckShield Reports

COINOTAG News, citing PeckShield data published on November 1,...

BNB and Binance: Version 3.5.3 Adds Chinese Input Method to Deposit Interface, CZ Reacts with Crying-Laughing Emoji

COINOTAG News, reporting on November 1, notes that Binance...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img