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Bitcoin enters \'indifference phase\' as trading and on-chain activity slump

Bitcoin trading volume and liquidity have fallen to their lowest levels since 2019, signalling the market has entered a clear stagnation phase. Bitfinex said on-chain data and macro indicators point to an effective “indifference phase,” with turnover at a seven-year low and holders moving coins less. The report cited key price levels around $52,699 and $67,176, and said macro conditions and rate-cut expectations have not provided direction.