Santiment: Mainstream coin trading volume drops to a two-year low, and the market may enter a "capitulation downturn," which has historically often been a precursor to a rebound.

BlockBeats News, June 11 — In its latest report, Santiment pointed out that trading volume for mainstream cryptocurrencies excluding stablecoins has dropped to a two-year low, returning to mid-2024 levels, reflecting a clear cooling of market sentiment and participation.

The current low trading volume environment is driven by macro uncertainties, geopolitical tensions, and recent liquidation events, leading traders to generally adopt a wait-and-see approach, with buying and selling interest both waning. Although this downturn phase is often seen as a negative signal, history shows it often corresponds to a "exhaustion of sentiment" stage and may lay the groundwork for a subsequent rebound.

Santiment emphasized that markets typically do not form bottoms during periods of high activity but gradually build a base when investors generally lose interest and trading participation declines. Once confidence begins to return, even a small influx of funds can trigger a phased rebound.