Bitcoin trading volume has been falling for the past few weeks.
K33 Research analysts Vetle Lunde and Bendik Shay found that the amount of BTC transactions in monthly terms has fallen to its lowest level since November 2020.
All major cryptocurrency exchanges recorded a weakening of trader activity. The volume of trading on the spot and derivatives markets in July fell to an annual minimum of $515 billion and $1.85 trillion, respectively.