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Bitcoin exchange volume tracks 5-year lows as Fed inspires BTC hodling

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Bitcoin exchange volumes are at multiyear lows, as the Fed accidentally incentivizes BTC hodlers.

to new research from on-chain analytics platform CryptoQuant published on Sept. 25, daily BTC volumes are at lows rarely seen since 2018.Bitcoin price action has stayed in a familiar range for several months, and as time goes by, interest in transacting appears to be fading.

The past week saw between 8,000 and 15,000 daily spot exchange transactions — a fraction of the standard March daily tally, which exceeded 600,000. “One of the main reasons cited is the growing fear regarding the macroeconomic scenario,” he wrote in part of the commentary accompanying the data.

 

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