Coinbase explained that total crypto volumes are slowing down due to the market attempting "to find the next narrative to power it higher."
Many crypto traders are eyeing the Bitcoin (BTC) halving event as a primary driver for a potential price spike, but the time of year will be an obstacle, according to cryptocurrency exchange Coinbase.
The crypto market will need to find another narrative to further push up prices across the board, Coinbase further explained in its April 5 market commentary report.
“The BTC halving, currently due April 20 or 21, could be a catalyst for higher prices, but it will have to contend with what is typically a weak time of year for crypto markets and other risk assets,” the exchange stated.
