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BTC Spot Volumes Have Crashed 81% Since October 2025.

Bitcoin spot trading volumes have now fallen to levels typically seen during bear markets. You have to go back to July 2023 to find a month with spot volumes this low on BTC. Despite this slowdown, Binance continues to dominate the market with $36.4B in trading volume. For comparison, the exchange recorded $198.6B in October 2025. 💥Volumes are therefore nearly 5 times lower today, representing an 81% decline. And Binance is far from an isolated case. Gateio has also seen a massive 79.6% drop in volumes, while Bybit is down 66%. ➤ This development primarily reflects a macro environment that has been unfavorable for risk assets such as cryptocurrencies. Between rising inflationary pressures and the U.S./Iran conflict lasting longer than expected, investors have preferred commodities and traditional equity indices over crypto markets. ➤ However, this dynamic can also be interpreted constructively. The decline in trading activity suggests that the selling pressure behind the current retracement is gradually losing momentum. Historically, 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.