Spot BTC trading volume drops to lowest level since October 2020

The 30-day moving average (30DMA) of spot Bitcoin (BTC) trading activity on centralized exchanges (CEXs) has fallen to $965.6 million—a level not seen since October 2020—according to crypto analyst Axel Adler Jr. on X. This decline suggests that investors are opting to hold onto their BTC rather than sell or transfer it, reflecting a broader trend toward long-term holding in the market.