Bitcoin Spot Trading Volumes Plummet Over 75% Since Late 2024, CryptoQuant Data Shows

BTC-2.72%
According to CryptoQuant analyst Darkfost on July 28, major exchange bitcoin spot trading volumes have plummeted over 75% since November 2024. Binance's July trading volume stood at over $35 billion, down significantly from $246 billion in November 2024; Bybit dropped 85%, Coinbase declined 61%, and OKX fell 67%, marking the lowest levels since the 2023 bear market. The analyst attributed the decline to escalating geopolitical tensions, inflation-driven interest rate concerns, and sustained capital outflows to equities, all pressuring speculative assets.
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