According to Wu Blockchain, Glassnode reports that BTC spot trading volume has dropped to its lowest level since 2019 when data became available. The price is stuck between the realized price midpoint of $63K and the short-term holder cost basis of $68.7K. Currently, the seller exhaustion indicator is nearing levels seen at previous bear market bottoms, but ETF inflows remain limited, and exchanges continue to see net BTC inflows, indicating that true spot demand has yet to return. Meanwhile, Hyperliquid whales have maintained a net long position since mid-March, with futures open interest now exceeding daily trading volume. Glassnode warns that with thinning buy-side liquidity and a leverage-heavy market, a drop below $58.5K could trigger an amplified sell-off. https://(wublock123.com)/news/glassnode-btc-spot-volume-hits-lowest-since-2019-66410