Santiment wrote on the X platform, "Since the peak of trading volume on February 27, the overall volume of the crypto market has continued to decline (when traders bought the dip optimistically). After further declines in the past two weeks, traders' behavior has shown signs of exhaustion, despair and capitulation. When the volume of major cryptocurrencies continues to decline, even during a small price recovery, it usually means that traders' enthusiasm has waned. In this case, traders have become more cautious, indicating that they may not believe that the current upward trend can continue. In addition, a contraction in trading volumes during a slight rally could be an early sign of weakening market momentum. Without strong buying support, price gains could quickly lose steam as there is not enough inflow to sustain the uptrend. This could mean that any rally is only temporary and prices remain at risk of falling again. A reduction in trading volume does not necessarily constitute a direct bearish signal in the event of a small rally, but volume reflects the market engagement of both retail and institutional traders. If both are waiting for the other to drive market cap growth to make their next move, the market could stall, showing a trend of low volatility or even a slight downside. For a healthier and more sustainable market recovery, bulls typically want to see price and volume growth in tandem. Until there is a significant pick-up in trading activity, sentiment is likely to remain cautious. "