Quick Take

• The volume for all BTC pairs, in BTC, on exchanges fell in April to one of the lowest levels for years.
• The total volume was 6.36 million Bitcoin in terms of spot trading volume.
• According to the Block, the last time it was this low was back in September 2019, posting 6.26 million BTC in the depths of the bear market.
• This is a symptom of an illiquid market — which has been covered extensively by CryptoSlate.
• The more illiquid the market is, the bigger the price jumps can be to both the upside and downside.

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