It has been a quiet week of caution for Bitcoin traders in terms of price action. This caution has trickled into trading volume in particular, as volumes on major crypto exchanges for both spot Bitcoin trading and Bitcoin derivatives have fallen far below their levels at the beginning of the year. On-chain data from CryptoQuant charts have shown the daily spot and derivatives trading volume of Bitcoin has been steadily declining since the first quarter of the year. The question is, what does this collapse in trading volumes mean for the future price of Bitcoin? Related Reading: Polkadot Cross-Chain Bid Takes Flight As DOT Battles Uncertainty Decline In Trading Volumes Trading volumes this year have declined significantly from their highs in March during the Silicon Valley Bank fiasco. Since this period, the derivatives or futures market has fallen 96% and the spot market has fallen 98%. Bitcoin trading in particular, has been down by a significant margin the past week. Data from CoinMarketCap has shown Bitcoin spot trading volume has decreased by 33.67% in a 24-hour timeframe. Similarly, t ..
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