Bitcoin trading volume falls to five-year lows

On August 12, Bitcoin trading volume on spot and derivative exchanges fell to 112,317 BTC — the lowest since November 10, 2018. CNBC reports, citing data from the analytics platform CryptoQuant.

As of August 26 this figure stood at 129,307 BTC, about 94% below the March peak of 3.5 million BTC.

CryptoQuant attributes this to retail investors exiting during the bear market. In addition, US regulatory measures on cryptocurrencies, together with the end of the banking crisis in May, contributed to this dynamic.

“Overall, the market remained subdued while awaiting a new catalyst, and overall market liquidity was scarce… Participants remain uninterested in trading as the market waits for catalysts,” said Gautam Chhugani, an analyst at Bernstein.

In his view, the real opportunity for investors lies in staying the course in the new market cycle, which typically coincides with the halving. The next reduction in miner rewards is scheduled for spring 2024.

As of writing, the leading cryptocurrency trades at about $25,970, according to CoinGecko. Over the past year, the asset’s price has risen by about 32%, according to

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