#btcbullrun #BullishMomentum
Analyst: BTC/USD Trading Pair Volume on CEX Has Been Decreasing Since July 2022, Signaling Long-Term Bullish Outlook
On May 22nd, CryptoQuant analyst Axel stated that following the LUNA crash, the average weekly trading volume of the BTC/USD trading pair on centralized exchanges (CEX) has been continuously declining. It has dropped from a peak of 2.9 million coins in July 2022 to 426,000 coins during yesterday's trading period. This could potentially be a long-term bullish signal. Since a decrease in exchange supply might instead lead to upward price pressure.
