Bitcoin Volume Continues to Drop

Bitcoin volume on exchanges slumped to a 44-month low.

The Decline in Bitcoin Volume Continues. While the leading cryptocurrency BTC tried to maintain its position above the critical $ 40,000 level last week, its volume in the markets continued to decline. According to data from Bitcoin analytics platform Pricedinbitcoin21, BTC volume dropped to 2.4 million BTC, recording a 44-month low. Last February, the total supply of Bitcoin on exchanges was 3.2 million. Since the beginning of 2022, the total amount of Bitcoin on exchanges has also dropped by 202,900 BTC (about $ 8 billion). Moreover, the price movements of the leading cryptocurrency Bitcoin continue to move in the opposite direction of the amount historically held on exchanges. Experts state that if investors want to buy more crypto instead of selling, the assets on the exchanges will decrease, thus triggering a price increase.

How Much is Bitcoin?

According to Investing.com data; Bitcoin, which has been moving in the range of 38,387.0 - 39,134.0 in the last 24 hours, is trading at $ 38,651.0 with a gain of 1.64% at the time of writing.       Source: Hardware News