Matrixport: Trading Volume Continues to Decline, Bitcoin May Enter Summer Consolidation Phase

According to Jinse Finance, Matrixport released today’s chart stating, “Trading volume has recently begun to enter a consolidation phase on the platform, showing initial signs of the typical summer market slowdown. Although the market remains active, the absence of key catalysts in August, coupled with a general decline in retail trading enthusiasm during the holiday period, may gradually cool market sentiment. The chart shows that over the past 18 months, there have been three notable surges in trading volume, each accompanied by a significant rise in Bitcoin prices. While such occurrences are rare, they often serve as strong signals, reminding us to closely monitor similar trends as the market evolves. Historical experience indicates that a decline in trading volume is often a precursor to Bitcoin entering a consolidation period. As August approaches, the market may be gradually moving into this phase.”