Bitcoin Spot Volume Plummets 75% Amid Whale Buying Frenzy

Bitcoin's spot trading volume has dropped by over 75% across major crypto exchanges, according to market analyst Darkfost.

This decline in activity is despite large holders continuing to buy more BTC, with wallets holding between 10 and 10,000 BTC adding 19,696 BTC over the past eight days.

The drop in volume shows weaker market interest, while whale buying and ETF demand are giving traders another reason to keep watching the price of Bitcoin.

Market analyst Darkfost pointed to several reasons behind the slowdown, including a growing conflict between the United States and Iran, inflation concerns, and strong gains in the stock market that have attracted much of the available money.