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      Analyst: BTC spot trading volume shows modest recovery, but demand is not yet enough to support new highs

      PANews reported on October 6 that crypto analyst Darkfost said Bitcoin spot trading volume has seen a modest recovery since its July low, but the overall recovery remains limited. When Bitcoin hit its stage low in July, spot trading volume also fell to its lowest level since the last bear market, reflecting the weakest market interest in BTC in nearly three years. Since then, spot trading volume has picked up somewhat, but there has not yet been a clear recovery.

      Data disclosed by Darkfost shows that Binance spot trading volume rose to over $50 billion in September, up from $42 billion in July; Bybit spot trading volume rose from $14 billion in July to $19 billion; and Kraken rose from $4 billion to $8 billion. The modest growth in spot trading volume has accompanied 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 new demand.


      Source: PANews
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