Bitcoin Trading Volume Hits Multi-Year Low in July

Bitcoin's trading volume in July hit its lowest level since 2023, according to a recent report by K33 Research.

The price of BTC fell by around 3% over the past week, reaching approximately $63,300. This decline has seen the cryptocurrency consolidate within a narrow range between $60,000 and $66,000.

July's average daily spot trading volume was roughly $2.2 billion, a relatively low figure compared to previous months. Additionally, CME open interest is near a multi-year low, while perpetual contract open interest has stalled at around 300,000 BTC.