Bitcoin trading volume plummets! Matrixport: The crypto market is undergoing the test of a "volume-less bear market."

The bears are here, and the bulls are gone? The Bitcoin and cryptocurrency markets are showing liquidity warnings and deleveraging, entering a high-pressure wait-and-see period. (Background: Bitcoin fell below $103,000 again to test the 50-week moving average support, SoftBank cleared its NVIDIA holdings, dropping 3%, dragging down tech stocks.) (Additional context: Premier Su Rongtai promised: “By the end of the year, we will verify how much Bitcoin the Taiwanese government holds!” The Central Bank will submit an evaluation report on BTC reserves.) Over the past week, Bitcoin (Bitcoin) closed the weekly chart around $100,800. Although the volatility was small, the signals are very heavy. The price touched a short-term support of $99,500 on November 5, with only a slight rebound to $102,300 at most. Matrixport’s weekly report states that over the past 12 months, the total cryptocurrency market cap expanded from $2.4 trillion to $3.7 trillion, but the daily trading volume decreased from $352 billion to $178 billion, a 50% reduction. This indicates weakening momentum; buying pressure is insufficient to push prices higher, while selling pressure is limited by low volume, causing the market to remain in a tug-of-war. On-chain indicators: Deleveraging in derivatives markets reinforces the wait-and-see sentiment. On-chain data continues to serve as a warning: Bitcoin’s price remains below the short-term holder cost basis of $112,500, with profit ratios dropping to 71%, approaching a historically slow zone. Exchange-held coins increased again over the past week, hinting at potential selling pressure waiting to be triggered. Technically, the outlook is also unfavorable: after Bitcoin’s price broke below the 365-day moving average earlier, there has been no effective recovery. The futures market continues the large deleveraging seen in early November. After $1 billion in long positions were liquidated, open interest shrank by over $2 billion, and funding rates on perpetual contracts remained negative throughout the week, with speculative long positions at their lowest levels of the year. Short-term support has emerged, but the rebound lacks volume. Although BTC price around $99,500 shows support, technical indicators have slightly improved: the Relative Strength Index (RSI) rose from 29 to 38, and the MACD histogram shortened, but volume confirmation is lacking. Investing.com analysis suggests that unless trading volume expands to over $25 billion daily, the rebound potential is limited. On the other hand, some long-term observers remain patient, believing that the current consolidation resembles the compression zone at the end of 2023, which could set the stage for a new rally in early 2026, but this hypothesis still depends on liquidity conditions. Related reports: What would happen to Bitcoin if the internet went down worldwide for a day? Square announces support for Bitcoin payments at 4 million stores in the US, Japan, and France; Jack Dorsey: combating fiat currency inflation. “Bitcoin trading volume plummets! Matrixport: The crypto market is experiencing the test of a ‘volume-less bear market.’” This article was first published on BlockTempo, the most influential blockchain news media.