Crypto market pulls back in Q1 2025 as exchange volumes decline

The crypto market saw a 22.8% drop in total market cap in Q1 2025, falling to $2.7 trillion amid policy uncertainty and risk-off sentiment following a late 2024 rally, according to TokenInsight. Bitcoin dropped from $108,135 to $86,000, and total exchange trading volume fell to $23 trillion, down 12.5% from Q4 2024. Binance Exchange remained the top exchange with $8.39 trillion in volume and a 36.5% market share. Spot trading declined more sharply than derivatives, with average daily spot volume dropping to $51 billion. Exchange tokens also corrected, though BNB held strong, while GT led in gains with a 34% increase.