Crypto trading volume has dropped significantly, falling from a peak of 440 billion USD in early February to just 163 billion USD by March 12. This equates to a staggering decline of over 63%.

The total market capitalization of cryptocurrencies has shrunk by approximately 900 billion USD, marking a 25% decrease since February as market corrections deepen.

Trader enthusiasm is clearly fading, characterized by a mix of exhaustion and capitulation. Concerns over a potential US recession and rising global trade tensions are leading traders to adopt a more cautious approach.