Kaiko: Crypto trading volume slid to about $15B last week, the year's low and 70% below January's peak

Kaiko data showing crypto trading volume falling to about $15B last week—the year’s low and roughly 70% below January’s peak—signals materially weaker liquidity and reduced risk appetite. Thinner order books can amplify volatility and widen spreads, often constraining follow-through on directional moves. The backdrop is broadly negative for large-cap crypto, with BTC most directly impacted as the primary liquidity hub for the market.