Bitcoin's recent rally has stalled since its May supply squeeze, with the price repeatedly failing to breach the psychological $10,000 per bitcoin level.
The bitcoin price, up around 30% since the beginning of the year, has traded sideways over the last two months— and a bitcoin trading volume slump has caused some cryptocurrency analysts to fear a return to the bleak so-called "crypto winter" of late 2018.
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Trading volumes on the world's biggest bitcoin exchanges dropped "drastically" by 36% in June, according to a report this week from London-based data provider CryptoCompare.
"Spot volumes have gradually dwindled throughout the month of June, now representing roughly half of the daily volumes seen in the previous month," the report authors wrote, adding "crypto derivatives exchanges experienced a 35.7% drop in volume," taking them to "the lowest monthly volumes since the start of 2020."’