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Joao Wedson reports that crypto exchanges have experienced a 50 percent decline in user traffic over the past two weeks.
He expects exchanges may respond by reducing trading fees to zero in the coming months to attract investors, similar to patterns seen in late 2022.
Wedson recently noted that $1.4 billion in Bitcoin positions could face liquidation if the price drops to $53,500 as traders add leverage, according to his previous report. He has also suggested that Bitcoin’s price bottom might occur before the GTA 6 video game release, with sentiment expected to shift after, as detailed in an earlier article. These observations follow his latest comments on declining exchange user activity.