Bitcoin Spot Trading Volume Plummets 75%, Hitting Lowest Level Since 2023 Bear Market
Prefer us on GoogleCryptoQuant analyst Darkfost pointed out that the spot trading volume of Bitcoin on major exchanges has dropped by over 75% since the end of 2024. Binance's trading volume in July exceeded $35 billion, significantly lower than the $246 billion in November 2024; Bybit plummeted by 85%, Coinbase fell by 61%, and OKX dropped by 67%, all marking the lowest levels since the late 2023 bear market. Analysts believe that the escalating conflict between the U.S. and Iran has suppressed risk sentiment, inflation has raised concerns about high interest rates, and the stock market continues to absorb liquidity, all adversely affecting speculative assets. For Bitcoin to return to a bullish trend, it will depend on a shift in the macro landscape and a resurgence in demand.
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