BTC rebounds 30% in August as spot volume hits three-year low

Bitcoin has rebounded 30% this August, but spot trading volume has fallen to its lowest level in three years, according to crypto analyst Darkfost. In a post on X, Darkfost said average BTC spot volume on major exchanges was down about 70% from October last year, when prices were near their peak. Binance fell to $44 billion from $198 billion, Gate to $14 billion from $53.4 billion, and Bybit to $17.4 billion from $41.2 billion. Darkfost added that August volume held at July levels, marking the first sign of stabilization, which Darkfost said suggests investors were uninterested in the market over the summer. Darkfost said a further price gain accompanied by higher volume could be interpreted as the start of a new upcycle.