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Bitcoin Trading Volume on Track for Lowest July Since 2023

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BTC
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The past week's trading activity for Bitcoin has been sluggish, with BTC falling 3% to $63,300. The asset remains in a narrow consolidation range and is expected to have its lowest average daily spot trading volume since November 2023, according to K33 Head of Research Vetle Lunde.

The current average daily spot volume across exchanges tracked by K33 stands at $2.2 billion for the month, with the seven-day average at $2.1 billion, a decline of 4% from the previous week.

Derivatives activity has also been muted, with CME Bitcoin open interest staying near levels not seen since 2023 and perpetual futures open interest holding around 300,000 BTC.

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