Bitcoin Trading Volumes Surge to Multi-Month Highs Amid Rising Prices
Bitcoin's spot and perpetual futures trading volumes have surged to multi-month highs, signaling that the market may be shifting from a bear phase to an early bull one.
According to CryptoQuant's weekly report, daily spot trading volume reached $75 billion on August 21, the highest since February. Binance led with $19.4 billion, followed by Coinbase at $8 billion and Gate.io at $5.1 billion.
Daily perpetual futures volume climbed to about $336 billion on the same day, the highest since March. Binance led with $124 billion, while OKX and MEXC recorded $46 billion and $30 billion, respectively.
CryptoQuant noted that this increase in volume is unusual because it came alongside rising prices, rather than heavy selling. Unlike previous spikes, Bitcoin's 24% price rise was accompanied by increased trading activity.