Crypto Market Slump: Bitcoin & Altcoins Trading Volume Nosedives Amidst Investor Apathy

Crypto Market Boredom: Bitcoin & Altcoins See Volume Crash

The cryptocurrency market has entered a phase of stagnation, with both Bitcoin and altcoins experiencing significant drops in trading volume. According to an analysis by Santiment, the on-chain data indicates that traders have significantly reduced their activity across major exchanges over the past week. This decline is evident across various segments such as Memecoins Top 6, AI & Big Data Top 6, Layer 1 Top 6, and Layer 2 Top 6 assets. The downturn follows a period of high engagement during November's bull run but now reflects waning investor interest amidst bearish trends. As reported by Bitcoinist, this lull could signal potential calmness or even FUD (Fear, Uncertainty, Doubt) within the market.

Bitcoin Price Today: Why Has the Cryptocurrency Fallen?

Newsweek reports that Bitcoin's price fell sharply on January 13th to $92,567.84 after previously surpassing $100K earlier in the month due to Donald Trump's pro-crypto policies post-election victory. However, recent economic indicators suggest fewer chances for Federal Reserve rate cuts which negatively impact riskier investments like cryptocurrencies. Additionally contributing are legal uncertainties surrounding XRP and Ripple affecting overall sentiment in crypto markets.

Bitcoin Falls Below $90,000 For First Time Since November

A report from Forbes highlights how multiple factors led to Bitcoin dropping below $90K for its first time since mid-November; these include macroeconomic pressures such as rising interest rates alongside regulatory concerns causing cascading liquidations among leveraged positions—further compounded by profit-taking activities reducing institutional adoption news impacting broader equity correlations too.

JPMorgan Billionaire Dimon Warns He Still Doesn’t ‘Feel Great’ About It

Forbes writes about JPMorgan CEO Jamie Dimon's continued skepticism towards bitcoin despite it slipping into correction territory along with other asset classes recently—the digital currency dropped under key support levels amid vanishing hopes regarding further US Federal Reserve interventions against strong domestic economy signals pushing investors away from risky ventures including cryptos. Dimon personally states “no intrinsic value” exists therein yet allowing trade akin to smoking rights granted otherwise legally permissible. Nonetheless, he advised a cautionary approach instead.

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Article Summary

The cryptocurrency market is experiencing a significant decline in trading volume and investor interest, with Bitcoin falling below $90K due to macroeconomic pressures and regulatory concerns. Despite previous bullish trends, skepticism remains high among influential figures like JPMorgan CEO Jamie Dimon, who questions the intrinsic value of cryptocurrencies amidst ongoing economic challenges.