Bitcoin trading volume has fallen to its lowest level in

Bitcoin trading volume has fallen to its lowest level in almost five years

Bitcoin trading volume hit its lowest level in almost five years in August CNBC Citing data from CryptoQuant analysts, this indicator fell to its lowest level since 2018 in both spot trading and derivatives.

    Image source: Gerd Altmann /

Image source: Gerd Altmann /

On Aug. 26, bitcoin trading volume was 129,307 BTC and on Aug. 12 it was 112,317 BTC, the lowest since Nov. 10, 2018. The record was set last March, when trading volume hit 3.5 million BTC — meanwhile it has dropped by 94%. This momentum at CryptoQuant has been explained by the “bear market” and mass exodus of retail investors. At the same time, Bitcoin’s price is up 57% year-to-date and is currently trading around $26,000.

    Image source:

Image source:

This summer, the bitcoin market has been characterized by an almost complete absence of events, largely due to seasonality. In May, the US halted the banking crisis but imposed tough regulation on cryptocurrencies and crypto market participants, alienating investors. The situation was not rectified by the Aug. 17 shock, when market participants heavily sold off some of the cryptocurrency, causing prices to drop further, but the biggest one-day sell since FTX crashed had little impact on long-term investors. The next spike in bitcoin value is expected next spring when the so-called halving will take place – a doubling of the size of the mining reward.

About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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