Bitcoin Trading Volume on Spot Market Declines to Lowest Level in 30 Months: Report

Over the past seven days, spot exchange trading volumes for Bitcoin have been the lowest seen since early 2021, according to a report published by analysts at K33 Research.

The softening volatility has been observed for weeks in a row. Vetle Lunde, an analyst at K33 Research, commented that traders are gathering to re-enter the market motivated by a series of factors that could have a huge impact on the value of BTC.

Primarily, the Federal Reserve’s decision on the discount rate could be a turning point for investors as a tighter policy will lead to a capital outflow from the crypto space.

Another catalyst that could arouse volatility will be the Securities and Exchange Commission’s (SEC) call on applications for the launch of ETF spot crypto funds.

Co-founder of OrBit Markets, Caroline Mauron has similar opinions, predicting turmoil could come back in the upcoming weeks and months.

The range of fluctuations in prices for Bitcoin should increase in the third quarter. If BTC trades back up to $30,000, it’s possible that traders may push the cryptocurrency to $33,000 or even $35,000 by mid-fall.