Analyst: Bitcoin Spot Trading Volume Plummets 75% from End of 2024, Lowest Since 2023 Bear Market

CryptoQuant analyst Darkfost stated that the spot Bitcoin trading volume on major exchanges has fallen by over 75% since the end of 2024. Binance's July trading volume exceeded $35 billion, far below the $246 billion recorded in November 2024. Bybit saw an 85% drop, Coinbase fell 61%, and OKX declined 67%, reaching their lowest levels since the late bear market of 2023. The analyst pointed out that escalating US-Iran tensions are suppressing risk sentiment, inflation is fueling concerns about high interest rates, and the stock market's continued liquidity absorption are all unfavorable for speculative assets. Bitcoin's return to an upward trend requires a shift in the macroeconomic landscape and a resurgence in demand.