BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, DOT, MATIC By Cointelegraph

A trending move in an asset class attracts traders, while a dull price action drives investors to the sidelines. (BTC) has largely been stuck in a range for the past several months, which could be one of the reasons for the drop in spot volumes. Bloomberg reported on Oct. 11 that Coinbase’s spot trading volume plunged 52% in Q3 2023 compared to Q3 2022.

While the short-term remains uncertain, traders need to be watchful because long consolidations are generally followed by an explosive price action. The only problem is that it is difficult to predict the direction of breakout with certainty. Considering that the bulls have not allowed Bitcoin to dip back below $25,000 in the past few months, it increases the likelihood of an upside breakout.