Bitcoin Spot Trading Hits Lowest Volume Since November 2023
Bitcoin spot trading volume plummeted to its lowest point since November 2023, reaching around $2.2 billion daily in July.
This decline reflects a summer slowdown in market activity, as price movements remained tight between $60,000 and $66,000, with a recent 3% dip.
The subdued trading environment has also led to a decrease in futures open interest, signaling reduced institutional participation.
As a result, exchange revenues have been pressured, prompting some platforms like BitMEX to plan shutdowns.