Bitcoin Spot Trading Volumes Declines To $322B: Market Shifts To HODL Mode

Bitcoin is trading at a critical level after a quiet weekend, with bulls managing to defend key supports but struggling to generate fresh upside ￰0￱ market remains tense as investors await the US Federal Reserve’s interest rate decision scheduled for this Wednesday. A potential 25-basis-point cut is widely anticipated, which many see as a sign of a gradual pivot rather than an aggressive ￰1￱ a move could spark optimism across risk assets, including crypto, as it signals a more supportive monetary environment without triggering fears of economic ￰2￱ Reading: Three Whales Buy $205M Ethereum From FalconX: Institutional Flows Accelerate For Bitcoin, the focus is on whether it can sustain its position above critical price levels while macroeconomic factors shape broader ￰3￱ from CryptoQuant shows that BTC is increasingly shifting into “HODL mode,” with supply moving off exchanges and into long-term ￰4￱ pattern suggests that conviction-driven holders are accumulating rather than selling, reducing available liquidity on the ￰5￱ combination of macro catalysts and strengthening onchain fundamentals sets the stage for a pivotal ￰6￱ Bitcoin holds its ground through the Fed’s announcement, the groundwork could be laid for renewed momentum once volatility surrounding the decision begins to ￰7￱ Spot Volumes Halve Bitcoin enters a decisive week with a striking shift in market ￰8￱ analyst Axel Adler shared insights showing that in January 2025, spot trading volumes peaked at $636 billion, but by August, that figure had nearly halved to $322 ￰9￱ sharp decline in trading activity on centralized exchanges (CEXs) underscores a market in transition, with participants moving away from active speculation and into what Adler describes as “HODL mode.” The drop in volumes reflects a broader cooling of short-term trading ￰10￱ appear less inclined to chase rapid price moves, instead opting for long-term accumulation ￰11￱ data supports this, showing consistent outflows as Bitcoin is withdrawn into private wallets and cold ￰12￱ behavior indicates a growing conviction that BTC’s value lies in its long-term potential rather than short-term trading ￰13￱ Bitcoin, the combination of halving spot activity and mounting anticipation for the Fed’s move creates a tense ￰14￱ one hand, reduced selling pressure from sidelined traders supports price ￰15￱ the other hand, thin liquidity raises the risk of sharper swings once volatility ￰16￱ Bitcoin holds near critical levels, the coming days may determine whether this HODL-driven environment provides the foundation for resilience—or if macro forces spark a more dramatic revaluation across the crypto ￰17￱ Reading: Bitcoin Crawls Up On Weak Supply: 30D Momentum Reveals It Lacks Real Demand Technical Details: Holding Key Demand Bitcoin is currently trading near $114,987, showing signs of consolidation after its recent bounce from early September lows around $110,000.

The daily chart highlights that BTC has reclaimed both the 50-day SMA at $114,399 and the 100-day SMA at $112,681, strengthening the short-term bullish ￰18￱ moving averages now serve as immediate support levels, indicating that buyers are regaining ￰19￱ key resistance remains at $116,000–$117,000, where BTC has struggled to establish a sustained breakout. A successful close above this zone would clear the path toward retesting the cycle high at $123,217. This level has been a major barrier since July and will be the defining hurdle for bulls in the weeks ￰20￱ Reading: Bitcoin Holds 4% Above STH Cost Basis As Mature Bull Cycle Demands Discounts On the downside, support is around $112,500, aligning with the 100-day SMA.

A break below this level could reopen the risk of a retest of $110,000, which has acted as a critical ￰21￱ 200-day SMA at $102,652 remains the ultimate safety net in case of deeper ￰22￱ image from Dall-E, chart from TradingView