Bitcoin Spot Volume Falls to $6.61B From $10.22B High but Holds Above $4.85B July Low

Bitcoin spot volume peaked at $10.22B and futures at $60.17B on July 16, 2025.

Early July saw the lowest volumes, with spot at $4.85B and futures at $33.82B.

August 7 volumes remain higher than early July despite declines from mid-July highs.

Bitcoin trading activity between May and early August 2025 shows sharp fluctuations in both spot and futures markets. Data covering this period reflects how price changes aligned closely with shifts in trading volumes across exchanges. Volumes reached their highest levels in mid-July before trending lower, yet current activity remains well above the early July lows.

Climb in May and Decline Into Early July

In mid-May, an observation by Glasscode reveals that Bitcoin spot trading volume measured near $5.5 billion. Futures trading volume also began climbing, crossing $50 billion by May 21. During this same stretch, Bitcoin’s price pushed toward $118,000, reflecting strong activity across both markets. Spot volumes topped $9 billion in late May, while futures activity approached $60 billion.

Source: X

From late May into early June, spot and futures volumes fell sharply. Spot volumes slid from over $10 billion to $6 billion by June 6. Futures volumes dropped from near $60 billion to roughly $38 billion. Price action mirrored these movements, with Bitcoin falling to around $104,000 by mid-June.

Late June brought a brief rebound. Spot volumes touched $7.5 billion and futures surpassed $46 billion. The increase did not hold, and both measures declined into early July. On July 7, spot volume reached $4.85 billion, while futures dropped to $33.82 billion, marking the lowest readings for this period.

Surge to Mid-July Highs and Pullback

Between July 7 and July 16, market activity surged. Spot volume hit $10.22 billion on July 16, while futures rose to $60.17 billion. Bitcoin’s price traded close to $120,000, marking one of its highest levels in the observed window.

Following July 16, both spot and futures volumes entered a steady decline. By August 7, spot activity measured $6.61 billion and futures $41.05 billion. These figures were well below mid-July highs but remained considerably stronger than early July lows. Bitcoin’s price also eased, slipping from about $120,000 in mid-July to near $115,000 in early August

Across the three-month period, rises in trading activity aligned with price advances, and declines matched pullbacks. The sharpest single stretch of growth in both spot and futures volumes occurred from July 7 to July 16. Despite the recent easing, Bitcoin’s market activity at the start of August showed levels notably above the weakest points earlier in the summer.