Crypto spot trading volume hits lowest since Nov. 2023 despite BTC recovery

While Bitcoin is showing renewed signs of life, reclaiming the $94,000 level, overall crypto spot trading volume has fallen to its lowest point since November 2023, CoinDesk reported, citing Glassnode data. The outlet noted that warnings about a lack of market liquidity had previously emerged following a major liquidation event last October. Spot trading volumes for both Bitcoin and altcoins are currently at very low levels. According to CoinDesk, this decline in volume amid a general price uptrend typically suggests reduced market participation and weak underlying demand for the rally.