But Exchanges, What Low Volumes You Have!
On the surface, low trade volumes seem inauspicious, especially considering the last time they were this low was when bitcoin’s price dipped below $30,000. However, if we zoom out a tad, this looks like nothing out of the ordinary. It looks like the cyclical nature of markets and not some sort of mass exit from the market. A mass exit would, for the record, require a jump in volume as those participants unload their positions. Right now, I’m not worried. Maybe I’ll start worrying if exchange volumes fall even more.