Mars Finance News, on May 22, AXEL from CryptoQuant stated that after the LUNA crash, the weekly average trading volume of the BTC/USD trading pair on centralized exchanges (CEX) has continued to decline - from a peak of 2.9 million in July 2022 to 426,000 during yesterday's trading session. This could actually be a long-term bullish signal, as the reduced supply on trading platforms may create upward price pressure.
Analyst: The trading volume of BTC/USD on CEX has continued to decline since July 22, which is a long-term bullish signal
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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