Bitcoin spot volume crashes over 80% since October 2025
Bitcoin (BTC) spot trading volumes on all cryptocurrency exchanges have collapsed to their lowest levels in nearly two years.
The Bitcoin spot volume on Binance alone has declined by more than 81% from its October 2025 peak of $198.6 billion to about $36.4 billion at press time. Meanwhile, Gate.io spot volumes have fallen by 79.6% over the same period, while Bybit has shed 66%, thereby confirming a market-wide slowdown, according to data from CryptoQuant analyzed by Finbold on May 26.
Bitcoin spot trading volume. Source: CryptoQuant
The last time Bitcoin spot volumes were this subdued was in July 2023, deep in the previous bear market. Essentially, the significant drop in BTC’s spot volume suggests a notable decline in its selling pressure.
Moreover, demand for Bitcoin and other cryptocurrencies had fallen amid rising inflationary pressures triggered by the U.S.-Iran war. As such, investors opted for commodities and traditional equity indices.
What’s next for Bitcoin price amid low spot volume
With Bitcoin’s spot volume at a record low, bearish sentiment may have cooled further. Notably, the flagship coin has signaled a potential reversal after rebounding from a possible bear-market bottom formed between February and April, trading around $76,660 at the time of publication.
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BTC/USD 12-month chart. Source: Finbold
Historically, the collapse in BTC’s spot volume marked the end of its bear markets.
“It was precisely after spot volumes collapsed that the 2023 bear market came to an end, followed by the return of volatility and the recovery of the bullish trend,” analyst Darkfost noted.
BTC funding rates on Binance. Source: CryptoQuant
The potential BTC price rebound in the near future is bolstered by its sustained positive funding rates – periodic payments between longs and shorts in perpetual futures to keep the contract price aligned with spot price – on Binance over the past two, as per metrics from CryptoQuant. The low spot volume for BTC amid bullish leverage traders could bolster a potential rally beyond $82,000 in the near future.
