According to CoinMeta, as reported by cryptounfolded, the spot trading volume of Bitcoin in 2026 dropped to 126,000 coins per day, hitting a new low since 2016, a decrease of 72% from 453,000 coins in 2022. This means that the number of Bitcoins in circulation on exchanges has decreased, and it is possible that more of the supply is now stored in ETF and long-term wallets, rather than on trading platforms, leading to reduced market liquidity.