Bitcoin spot trading activity continued to decline in July. Despite a modest price rebound during the month, trading volumes on several exchanges still showed a significant drop, indicating weak market participation.

Major exchanges cool down simultaneously

Binance's Bitcoin spot trading volume in July was approximately $5 billion, significantly lower than the $246 billion in November 2024. Trading volumes on Bybit, Coinbase, and OKX also declined by 85%, 61%, and 67%, respectively.

Institutional and retail investor interest wanes

The article states that both retail and institutional interest in Bitcoin is waning. The decline in trading activity is not limited to a single platform but is affecting major cryptocurrency exchanges.

Macroeconomic pressures remain the main factor.

Market analysts believe that persistent macroeconomic pressures have suppressed the appetite for risk assets. If the macroeconomic environment does not improve significantly, Bitcoin spot trading volume may struggle to recover substantially in the short term.