📉 CEX volumes dropped nearly 40%
In Q1 2026, spot volume across top exchanges fell from $4.04T to $2.47T (-38.8%) !
📊 What stands out:
• Binance still dominates but declined
• most exchanges are down
• liquidity has clearly weakened
👉 What it means:
• hype has cooled off
• less speculative activity
• weaker momentum moves
📉 Bottom line:
the market is not in euphoria - it’s in a liquidity compression phase before the next move 🔥
BTC
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GUAUSDT
Perp
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