Analyst: BTC spot trading volume has rebounded modestly, but demand is still not enough to support new highs

According to ChainCatcher news, crypto analyst Darkfost said that Bitcoin spot trading volume has rebounded modestly since the July low, but the overall recovery is still limited. When Bitcoin hit its stage low in July, spot trading volume also fell to the lowest level since the last bear market, reflecting the weakest market interest in BTC in the past three years. Since then, spot trading volume has picked up, but there has been no significant recovery.

Data disclosed by Darkfost shows that Binance’s spot trading volume rose to more than $50 billion in September, up from $42 billion in July; Bybit’s spot trading volume rose to $19 billion from $14 billion in July; and Kraken’s rose from $4 billion to $8 billion. The moderate growth in spot trading volume is accompanied by a new round of upward momentum for Bitcoin, but if BTC wants to challenge new highs, the market still needs to further increase spot trading volume, especially new demand.