Bitcoin's recent rally appears to have stalled, with a notable decline in spot trading volume. According to Glassnode's report from July 13, the volume has dropped by approximately 21.5%, falling from $5.2 billion to $4.1 billion. This decline in activity correlates with Bitcoin's price hovering near $64,000 but not attracting significant buying interest.
Furthermore, the spot cumulative volume delta (CVD) has turned negative, shifting from $17.2 million to -$58.8 million. This trend suggests a weakening demand that could impact future price movements. As market participants analyze these figures, concerns grow about the sustainability of Bitcoin's recent gains.
