2024 Crypto Rally Ends With A Whimper As Trading Volume Falls 64%, Michael Saylor Says ‘Take A Break’

The 2024 crypto rally has come to an abrupt halt. Trading volumes have taken a nosedive, falling by 64% to reach seven-week lows. This downturn has occurred despite the ongoing accumulation by large investors, commonly referred to as whales.

What Happened: The crypto market has been a roller coaster ride this past week. Traders seem to have taken the advice of Michael Saylor, opting for a holiday break, which has resulted in a drastic drop in trading volumes.

Data from Santiment points to a particularly sharp decline in speculative altcoins. This trend is in line with the usual end-of-year patterns, where holiday festivities and financial planning often lead to a slowdown in market activity.

Full story available on Benzinga.com