Bitcoin Rebounds, But Spot Trading Volume Hits Three-Year Low

Bitcoin has made a significant recovery in August, rebounding by roughly 30% from its lows. However, this price increase is accompanied by a notable decline in spot trading activity across major exchanges.

According to crypto analyst Darkfost, average daily spot volume on major exchanges has fallen by about 70% compared to October last year, when prices were near their peak. Binance saw its spot volume drop from $198 billion to $44 billion, while Gate recorded a decline from $53.4 billion to $14 billion.

The stabilization of volume at July levels offers some hope that the market may be finding a floor, but it also means fewer participants are confirming the price move, making it more vulnerable to sharp reversals.