Bitcoin spot trading volume has fallen to its lowest level since Glassnode began tracking the data in 2019, according to a report published on August 12, 2026. Institutional investors are now favoring US two-year Treasury yields, with the spread over the Fed funds rate at its widest since November 2022. The BTC price remains trapped between $63,000 and $68,700 for nearly three months, with liquidity drying up and a thin order book. Glassnode warns that this low participation is the classic setup for an imminent volatility expansion in either direction. The Fed’s next rate decision will be the first real test for Bitcoin liquidity.
Source: Read the original article
