Analyst: BTC price rises accompanied by negative divergence in trading volume, market liquidity is significantly insufficient

ChainCatcher news, CryptoQuant analyst Axel Adler Jr stated that after Bitcoin reached an all-time high, on-chain transaction volume hit $62 billion, while the total of spot and futures on centralized exchanges was only $41 billion. This discrepancy is extremely rare. At the same time, the market has shown a negative divergence in trading volume, meaning that prices are rising while trading volume is declining, which essentially reflects a lack of liquidity.