Bitcoin’s Exchange Volume Plunges: A Potential Bullish Signal

Recent data reveals a significant decline in Bitcoin trading volume on centralized exchanges (CEXs). This decrease, according to CryptoQuant analyst Axel Adler Jr., has dropped considerably since mid-2022. Average weekly BTC/USD trading volumes have fallen from around 2.9 million BTC in July 2022 to approximately 426,000 BTC today. This decline signifies a potential shift in market dynamics and raises questions about the future of Bitcoin’s price.