Bitcoin Spot Trading Volume Rebounds, Still Lacks Support for Upward Momentum

Bitcoin spot trading volume has seen a moderate rebound since the low in July, but the overall recovery remains limited. Among major exchanges, Binance's spot trading volume rose to over $50 billion in September, up from $42 billion in July; Bybit's spot trading volume increased from $14 billion in July to $19 billion; Kraken's volume grew from $4 billion to $8 billion. Analysts point out that when Bitcoin hit its local low in July, spot trading volume fell to its lowest level since the last bear market, reflecting the weakest market interest in BTC. Although spot trading volume has rebounded, a significant recovery has yet to occur. Typically, a moderate increase in spot trading volume accompanies 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 with new demand.

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