Trading Volume Is Down Across The Cryptocurrency Sector, Santiment Shows

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On-chain data shows Bitcoin and the altcoins have seen their trading volume decline recently, a sign that trader interest in the market is waning.

온 체인 데이터에 따르면 Bitcoin과 Altcoins는 최근 거래량이 감소한 것으로 나타났습니다.

Trading Volume Is Down Across The Crypto Sector

In a new post on X, the on-chain analytics firm Santiment has discussed about how the trading volume has changed for the various assets in the cryptocurrency sector.

The “trading volume” here refers to a measure of the total amount of a given coin that was involved in trading activities on all exchanges during the past 24 hours. This shouldn’t be confused with the “transaction volume,” which keeps track of the amount involved in transfers across the network, including peer-to-peer (P2P) trades.

When the value of the trading volume is rising, it means the investors are engaging in more trades on the exchanges. Such a trend implies the interest in the cryptocurrency is on the increase.

On the other hand, the indicator witnessing a decline suggests the traders may be paying lesser attention to the coin, as they are lowering the number of their moves.

Now, here is the chart shared by the analytics firm that shows the trend in the trading volume for Bitcoin and the various top altcoins over the past month:

이제 분석 회사가 공유 한 차트는 지난 달 동안 Bitcoin의 거래량과 다양한 대체 알트 코인의 트렌드 추세를 보여줍니다.

As is visible in the above graph, the trading volume across the sector hit a peak late last month, which means the investors were participating in a large amount of spot moves related to Bitcoin and company.

The spike in trading activity came as prices of the various assets observed a plunge. Generally, the market tends to come alive in volatile periods, as traders rush to come in to make panic moves, whether for selling or buying. As such, the volume increase would make sense.

거래 활동의 급증은 다양한 자산의 가격이 급락을 관찰함에 따라 발생했습니다. Generally, the market tends to come alive in volatile periods, as traders rush to come in to make panic moves, whether for selling or buying. 따라서 볼륨 증가는 의미가 있습니다.

While volatility has continued in the last couple of week since then, however, the volume has interestingly been following a downward trajectory instead. To be sure, there have been spikes deviating to the upside, but the overall trend has remained in the down direction.

While volatility has continued in the last couple of week since then, however, the volume has interestingly been following a downward trajectory instead. 확실히, 스파이크가 거꾸로 이루어졌지만 전반적인 추세는 아래쪽 방향으로 남아있었습니다.

“When trading volume for major cryptocurrencies consistently drops, even during slight price recoveries (like we have seen Wednesday), it typically points toward diminishing trader enthusiasm,” explains Santiment.

Santiment는“수요일에 보았을 때와 같이 주요 암호 화폐에 대한 거래량이 지속적으로 하락할 때 일반적으로 상인의 열정 감소를 지적합니다.

Historically, price moves have usually required a certain level of interest from the investors to be sustainable. This is because it’s only when a large amount of investors are making trades that moves like this can obtain the fuel that they need to keep going.

역사적으로 가격 이동은 일반적으로 투자자의 일정 수준의이자가 지속 가능해야했습니다. 이것은 많은 양의 투자자들이 이와 같이 움직이는 거래를 할 때만 계속 진행하는 데 필요한 연료를 얻을 수 있기 때문입니다.

Thus, with trader participation seemingly reaching exhaustion, it’s possible that Bitcoin and other assets may not be able to put together any lasting recovery rallies.

“To signal a healthier and more sustainable recovery, bulls generally will want to see both rising prices and rising volumes simultaneously,” explains the analytics firm. “Until trading activity increases meaningfully, cautious market sentiment is likely to dominate.”

분석 회사는“건강하고 지속 가능한 회복을 알리기 위해 Bulls는 일반적으로 가격 상승과 동시에 상승하는 것을 동시에보고 싶어 할 것입니다. "거래 활동이 의미있게 증가 할 때까지 신중한 시장 감정이 지배 할 가능성이 높습니다."

BTC Price

At the time of writing, Bitcoin is trading around $82,900, down over 9% in the last week.