CryptoQuant analyst Axel Adler Jr has shared an interesting analysis on the BTC/USD trading volume! He states that since the Luna fiasco (remember that jolt?), the weekly average trading volume of the BTC/USD pair on centralized exchanges has been continuously declining.
Looking at the data, it seems that in July 2022, this volume reached up to 2.9 million, while as of yesterday, it has dropped to just 426,000. Imagine how much of a difference that is!
However, Axel Adler Jr does not see this as bad news. He believes it could actually be a long-term bullish signal. This means that if the supply of Bitcoin on exchanges decreases, it will put upward pressure on its price. It's a simple matter: when something becomes scarce, its demand and price increase!
So what do you say, #BTC holders? Is this really a sign of "good times" to come?
