Bitcoin's Modest Volume Recovery Falls Short of New Highs

Bitcoin's spot trading volume has been recovering gradually since its July low, but a stronger demand is needed for the cryptocurrency to challenge a new all-time high.

According to an analysis by CryptoQuant contributor Darkfost, Bitcoin's recent upside momentum has coincided with a recovery in trading volume. However, the increase so far is insufficient to confirm a decisive market rebound.

The analysis pointed out that Bitcoin's spot trading volume on major exchanges, including Binance, Bybit, and Kraken, all increased in September from July. Binance's Bitcoin spot volume rose to $50 billion in September from $42 billion in July, the highest among the major exchanges.

Darkfost emphasized that more spot trading volume is needed and, above all, stronger demand for Bitcoin to attempt a new all-time high.