Bitcoin Trading Volume Increases, Demand Needed for New Peak

Bitcoin's spot trading volume has started to recover after hitting low levels in July. However, CryptoQuant analyst Darkfost noted that this increase is not sufficient to confirm a strong market recovery. For Bitcoin to reach a new all-time high, trading volume needs to accelerate and demand must strengthen. Last week, there was a net inflow of $241 million into spot Bitcoin exchange-traded funds (ETFs) in the U.S., continuing a three-week streak of positive inflows. During the period when Bitcoin hit its low in July, spot trading volume had fallen to its lowest level. On Binance, Bitcoin's spot trading volume rose from $42 billion in July to $50 billion in September. Bybit's volume increased from $14 billion to $19 billion, while Kraken's volume grew from $4 billion to $8 billion. Darkfost emphasized that the current increase is not enough to confirm a significant market recovery. During the same period, there was a net outflow of $138 million from spot Ethereum ETFs in the U.S. This indicates that the flow of funds into Bitcoin and Ethereum is moving in different directions.

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