Data: Bitcoin spot trading volume plummeted by 75% compared to the end of 2024, marking the lowest level since the bear market of 2023

CryptoQuant analyst Darkfost stated that the spot trading volume of Bitcoin on major exchanges has dropped by more than 75% compared to the end of 2024. Binance's trading volume in July exceeded $35 billion, far below the $246 billion in November 2024; Bybit plummeted by 85%, Coinbase fell by 61%, and OKX dropped by 67%, marking the lowest levels since the late 2023 bear market.

The analyst pointed out that the escalating conflict between the U.S. and Iran is suppressing risk sentiment, inflation is raising concerns about high interest rates, and the stock market continues to absorb liquidity, all of which are unfavorable for speculative assets. Bitcoin's return to a bullish trend requires a shift in the macro landscape and a return of demand.