Cryptocurrency exchange volumes show declining interest in Bitcoin trading

Columns：Market News author：BTCZXW time：2024-09-11 13:56:04

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According to Glassnode’s latest report, trading volumes on cryptocurrency exchanges show a “declining interest” among Bitcoin traders. Despite the recent recovery in Bitcoin prices, investors’ interactions with centralized exchanges have significantly decreased, resulting in a shrinking overall trading volume.

The report states that centralized exchanges remain an important platform for investor speculation and price discovery. However, the current market sentiment is not good, resulting in a decline in investor demand. After analyzing the data for the past 30 days and 365 days, we found that the average monthly trading volume is far below the annual average.

It should be emphasized that institutional investors are also reducing their investment in spot Bitcoin ETFs, with net outflows every week since August 2024. Such a trend makes the market full of doubts about whether it can be reversed in the next four quarters.

We call on all parties to pay attention to this phenomenon and strengthen exchanges in order to achieve healthier and more sustainable market growth in the future. Please share your views and insights!

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