Bitcoin trading volume has fallen to its lowest level since December last year, according to a weekly report from analytical company Alameda Research. As of 13:24 CET time, the daily trading volume of the market's largest crypto, according to CoinMarketCap, stands at $22.1 billion.
The Alameda Research report also highlights Bitcoin volatility has fallen to its lowest level in 2021 as the crypto's price has recently remained in a narrow range. Analysts have highlighted a similar situation occurred in the summer of 2020, as activity on the major spot cryptocurrency exchanges was very weak.
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We have recently reported users of cryptocurrency exchanges are withdrawing 2,000 Bitcoins per day (over $66 million) to external wallets. The outflow of cryptos from trading platforms has been occurring since the end of May.