Bitcoin Trading Volumes Drop to 2023 Levels
Bitcoin trading volumes have decreased: the average daily spot trading volume over the past month was $2.2 billion, compared to $5 billion at the beginning of the year. Since February, the price of Bitcoin has fluctuated between $60,000 and $70,000, with an attempt to break above $80,000 in May, but without success. As of July 29, Bitcoin was trading slightly above $64,000. In the CME futures market, open interest fluctuated between 95,000 and 102,000 BTC, which also corresponds to 2023 levels. July futures are set to expire this week, and open interest is expected to hit yearly lows. The closure of several crypto exchanges in 2026, such as BitMEX and Bitmart, is also impacting trading volumes. Major platforms like Binance and Coinbase are viewed through the lens of liquidity and demand. Michael Saylor's strategy has paused Bitcoin purchases for the fifth week, redirecting capital towards increasing reserves and buying back shares. The Federal Reserve's decision on interest rates, expected on July 29, may affect Bitcoin market volatility.
-- Price
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