Too Long; Didn't Read
Since the market reached its zenith on November 8, 2021, overall trading volume has dropped every month, along with prices. Volume peaked in December 2020, not November 2021, and prices have gone up for three months. Volume is not a meaningful statistic and it will continue to mean less as more money flows to derivatives and investment funds instead of the spot market. With custodial accounts, multi-sig wallets, investment products, private deals, Lightning Network, and mixers, on-chain data gets less useful.