Does the low volume means no one is spending or buying coins? Also, if the volume is so low why does it not affect the price?
Does this mean people are just hodling?
Just trying to work out the whole low volume thing.
There are around 1600 BTC being generated every day, so people must buy BTC to price don't drop. The miners won't just hodl everything because they have to pay bill and taxes.
And low compared to what?
Volume is lower than before the halving because the halving was a hyped event, now things are back to normal
It depends how you classify low volume. I can see two big bars on the Bitfinex 24 hour chart, and each of them is above 1000 Bitcoins and mostly buying. That's low volume by Bitfinex standards, but it's eaten the 1600 BTC generated today. After the volume increases again the price will probably increase, this low volume's enough to keep the price reasonably stable.