Bitcoin Trading Volume Tumbles Over 75% Since Late 2024
Bitcoin trading volume has plummeted to its lowest level since 2023, as market activity weakens. The decline is attributed to macro uncertainty, stronger equity markets, and expectations of a U.S. Federal Reserve rate rise.
Binance's Bitcoin spot volume dropped from $246 billion in November 2024 to just over $35 billion in July. This represents a staggering fall of more than 75% from late 2024 levels.
The decline in trading activity has been ongoing, with on-chain analyst Darkfost noting that despite Bitcoin remaining one of the largest digital assets by market capitalization, its trading volume has continued to slow.