Bitcoin has long been the bellwether in the cryptocurrency market, guiding sentiment and market dynamics. But recent metrics reveal an unsettling trend. Indeed, the pioneer digital currency appears to be losing its allure.

Analyzing market data, search trends, trading volumes, and investor behavior reveals an unsettling pattern of declining interest.

Bitcoin Trading Volumes Drop

One of the first alarming metrics that suggest declining interest in Bitcoin is trading volumes.

According to data from CoinGecko, Bitcoin’s spot trading volumes for the current quarter total $721.10 billion. It is worth noting that Bitcoin’s trading volumes the second quarter of the present year reached $1.25 trillion, marking a potential 14% month-over-month decline.

If this trend continues through September, the quarterly trading volumes could shrink to a level not seen since the first quarter of 2019.

Likewise, Ethereum mirrors Bitcoin, with trading volumes for July and August recording $232.06 billion and $212.92 billion, respectively. Con

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Author: Bary Rahma

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