Market in wait-and-see mode as Bitcoin volumes stagnate

Tracking Bitcoin’s transfer volumes gives us insight into the network’s economic activity, revealing heightened market participation during bull runs or downturns. Glassnode’s entity-adjusted metric filters out internal transactions, providing a clearer view of genuine market movements. On March 15, Bitcoin’s transfer volume hit an all-time high of $13.670 billion, coinciding with its peak price two days prior. However, since mid-March, the market has cooled off, with transfer volumes struggling to surpass $7.5 billion. As Bitcoin’s price remains range-bound between $60,000 and $65,000, spot volumes have also seen a notable decline. But what lies behind this stagnation, and what could be the crucial trigger to… [Subscribe to CryptoSlate Alpha to discover the key drivers that could spark Bitcoin’s next big move.]