BIT: Crypto Market Trading Volume Surges Nearly Fourfold, Insufficient Buying Pressure Exacerbates Liquidity Stress

on November 15, according to BIT analysis, Bitcoin fell nearly 9% over the past 24 hours, hitting a low near $62,000. As market liquidations accelerated, cryptocurrency trading volume climbed from $29 billion last weekend to $107 billion, approximately 3.7 times previous levels.

BIT pointed out that current market buying absorption remains weak. Net outflows of stablecoins over the past 30 days have already reached $14 billion, further eroding market liquidity. Compounded by weekend bank closures restricting fiat capital inflows, alongside macroeconomic sluggishness and growing cybersecurity risk concerns, the market continues to face persistent downward pressure.

Since early October, the total cryptocurrency market capitalization has dropped from $2.9 trillion to $2.1 trillion, a cumulative decline of approximately $800 billion. BIT stated that it had cautioned about long position risks in its October 16 'BIT on Target' report, when Bitcoin was still trading near $82,000.