Why Bitcoin’s perpetual swaps volume crashed by 52% over the past 30 daysBTC $9595 (+2.3%) • ETH $243 (+5.6%) • XRP $0.19 (+1.1%)
Active traders utilizing margin appear to be moving to the sidelines as Bitcoin continues trading sideways. This trend is clear while looking towards the cryptocurrency’s perpetual swaps volume, which have declined by over 52 percent over the past 30 days. This decline has come about in tandem with Bitcoin’s price settling within the lower-$9,000 region, and this could be contributing to the market’s persistent bout of sideways trading. Because the benchmark crypto’s price action remains firmly controlled by active retail traders, watching to see when this trend starts shifting could offer significant insight into when Bitcoin will begin breaking out of its multi-week consolidation pattern.
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