Crypto Trading Reaches Low Levels, Denoting an Indecisive Cycle: Says Santiment
The levels of crypto trading volume have recently decreased to a great extent. Santiment, a famous crypto intelligence platform, has disclosed that the current levels of the trading volume have touched the lows that were seen in January’s final week. The intelligence forum provided some insights in this respect on its official account on X.
— Santiment (@santimentfeed) April 30, 2024
#Cryptocurrency trading volume levels were last this low during the final week of January, and it appears that traders have entered into an indecisive sentiment cycle for trading.
The calls to #buythedip have fallen considerably, and those maintaining that #crypto is in a… pic.twitter.com/c9ZGydmvuY
The Volume of Crypto Trading Drop, Putting Traders in an Indecisive Cycle
As per Santiment, the present market scenario points toward a new shift in the case of traders. It added that the traders have reportedly become a part of an uncertain sentiment cycle. As a result of this, they find themselves in an indecisive situation in the case of crypto trading. In addition to the respective development, the urges to purchase the dip have also dropped at a significant scale.
Additionally, those who had been making endeavors to maintain their arguments regarding the bull cycle have also become silent. Keeping these factors in view, there are some speculations about the possible market scenario in the future. Nonetheless, on the other hand, there appears to be a big possibility for the traders to maintain their positions.
This means that, despite the current market sentiment, a large amount of traders may not make any changes. They probably believe that shifting the assets would make them miss out on a potentially remarkable relief rally. All of these factors have paved the way for a decline in the trading volume of the top crypto token.
A Volume Surge May Ignite a Market-Wide Rally
Hence, Bitcoin has seen a massive 60-70% dip in its trading volume since the big trading week at February’s end. Contrarily, several other factors can indicate a turnaround. However, a volume spike will likely play the role of a prominent turnaround signal to ignite a market-wide rally while heading into May.
