Analyst: BTC Spot Trading Volume Plunges 81% Since October 2025, Bearish Signal and Reversal Opportunity Coexist

BlockBeats News, May 26th, according to analyst Darkfost (@Darkfost_Coc) who stated on social media that Bitcoin's spot trading volume has dropped to a level usually seen during a bear market, with the last time such a low monthly spot trading volume occurred dating back to July 2023.

Despite the market slowdown, Binance still dominates the market with a $36.4 billion trading volume, but in comparison, Binance's trading volume in October 2025 was $198.6 billion. The current volume has dropped nearly 5 times from that time. This is not an isolated case, as Gate's trading volume also plummeted by 79.6%, and Bybit decreased by 66%.

This development mainly reflects the unfavorable macro environment for risk assets such as cryptocurrencies. Against the backdrop of rising inflationary pressures and the prolonged US-Iran conflict, investors prefer commodities and traditional stock indices over the crypto market.

However, this trend can also be interpreted from a positive perspective. The decline in trading activity indicates that the selling pressure behind the current pullback is gradually losing momentum. From a historical perspective, it was only after the collapse of spot trading volume that the bear market of 2023 came to an end, followed by the return of volatility and the recovery of the bullish trend.