Glassnode: BTC spot trading volume has fallen to the lowest level since October 2023

According to on-chain data platform Glassnode (@glassnode), the Bitcoin spot trading volume on major exchanges has fallen to its lowest level since October 2023, comparable to the level at the end of the previous bear market in September 2023. In a low trading volume environment, market depth has significantly decreased, and even minor capital flows can trigger liquidations, leading to a notable increase in the market's sensitivity to changes in liquidity.