Bitcoin Exchange Activity Slumps As Retail Stays On Sidelines

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Bitcoin trading volume on major exchanges has significantly declined, raising concerns about the current rally's sustainability.
The drop in trading volume is partly attributed to the increasing popularity of spot Bitcoin exchange-traded funds (ETFs) and waning interest in altcoins.
The decline in BTC trading volume is occurring without market euphoria, suggesting strategic capital allocation over speculative trading.
Analysts emphasize the importance of monitoring trading volume spikes, as they often indicate a market top approaching.
BTC is trading around 6.4% below its all-time high, with analysts waiting for a clear breakout direction.
Key resistance levels for BTC are identified by analysts at around $109,000 and $113,000, with potential ATH near $140,000 if broken.
Some warning signs for BTC include sell signals from indicators like Tom Demark's sequential indicator, divergence in Binance open interest, and movements out of the 'buy' zone on indicators like the Bitcoin RCV.
At the time of reporting, BTC is trading at $104,292, down 3% in the last 24 hours.

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