Bitcoin trading volume is rapidly decreasing, and market sentiment is cautious

Crypto界网消息，Bitcoin (BTC) trading volume is rapidly declining, with recent daily trading volume falling below $8 billion, the lowest since October 2023. Although market enthusiasm for Bitcoin rising further to $77,620.45 is increasing, participation in the spot market is waning, leading to a higher likelihood of price volatility. According to Glassnode data, trading volume has been decreasing since the peak of over $25 billion in early February. Market depth is typically measured by observing buy and sell orders within a 2% range of the current price, and a reduction in market depth means that a few large orders could significantly impact the price. While declining trading volume may lead to increased market volatility, options traders do not seem to be factoring in this scenario. Market analysts point out that current market sentiment is cautious, liquidity is thin, and future market movements are more likely to be influenced by macroeconomic factors.