Something very scary about BTC

We are now at all time highs but volume is consciously going down. Is this a ticking time b0mb? Or is this just something crypto does that does not make any sense.

In other financial markets, this would be a very bearish signal. But for the past bull runs of BTC, volume is constantly getting lower and lower.

Is this because of the scarcity of BTC?

My brain just seem to comprehend.