Bitcoin Spot Trading Volume Plummets: Three-Day Decline Suggests Market Shift

Recent data from Glassnode reveals a significant drop in Bitcoin spot trading volume over the past three days. This decline is evident in a 7-day moving average, showing a sharp decrease, as per Foresight News reports. On April 27th, the volume turned negative at $30.9 million, plummeting further to $76.1 million on April 28th and reaching a historic low of $193.4 million by April 29th. This trend indicates that aggressive selling is currently driving market activity, suggesting a weakening demand for spot Bitcoin purchases. The decline could signal profit-taking, exhaustion among buyers, or even a potential market reversal.