#夏日创作营

The 7-day average trading volume for crypto spot is already down by nearly 80% compared with the peak in 2025%.

What does that mean? It’s not that everyone has no money.

It’s that more and more people are choosing to wait and see.

A real bear market isn’t one where everything crashes every day.

It’s when nobody wants to trade.

When prices rise, nobody chases.

When prices fall, nobody steps in to buy.

When there’s a rebound, nobody believes.

The market has entered a “wait for direction” state.

That’s also why many people recently feel that:

The market is very stable, but making money is getting harder.

Because there’s no new money, and there isn’t enough trading volume; even the best news is hard to turn into a sustained trend.

However, in history, before each major bull or bear run really starts, there’s a common trait:

Trading volume typically first shrinks to the extreme.

Because most weak hands have already been washed out.

Real big capital also prefers to place positions slowly when the market is at its coldest, rather than waiting until everyone gets excited and then rushing in.

Trading volume reflects sentiment.

Price can still fool people.

But trading volume is much harder to fool.