Bitcoin Spot Volume Plunges to Lowest Level Since 2024
Bitcoin's spot volume has plummeted to its lowest level since 2024, according to data from Checkonchain analyzed by Finbold. The current daily traded spot volume stands at approximately $4.5 billion.
This decline marks a significant drop from the peak of around $25 billion a day during the 2025 crypto bull market. Bitcoin's spot volume has tumbled below $5 billion, a threshold not seen since its rally in the first half of 2024, which was fueled by the approval of several U.S. spot ETFs.
The recent drop in spot volume can be attributed to reduced whale activity and slower accumulation by long-term investors. According to metrics from Checkonchain, long-term Bitcoin holders' net additions dropped from around 40,000 BTC in late May to about 14,000 BTC in late July.