Bitcoin Spot Volume Rebounds As Price Hits ATH, But Still Far Below Late-2024 Highs
On-chain information reveals the Bitcoin Spot Volume has witnessed a rebound alongside the most recent worth rally, indicating a return of buying and selling curiosity.
Bitcoin Spot Volume Has Gone Up Recently
In a brand new post on X, on-chain analytics agency Glassnode has talked in regards to the newest development within the Bitcoin Spot Volume. The “Spot Volume” right here refers to an indicator that retains monitor of the full quantity of BTC that’s turning into concerned in buying and selling actions on centralized spot exchanges.
When the worth of this metric rises, it means a bigger quantity of cash are being shifted on the spot exchanges. Such a development implies buying and selling curiosity within the cryptocurrency goes up.
On the opposite hand, the indicator registering a decline implies buyers are dropping their spot buying and selling exercise, a possible signal that focus is shifting away from the asset.
Now, right here is the chart shared by Glassnode that reveals how the Bitcoin Spot Volume has modified over the past couple of years:
As displayed within the above graph, the Bitcoin Spot Volume fell to comparatively low ranges in September, suggesting that there wasn’t a lot buying and selling exercise occurring on the spot platforms.
This loss in curiosity from buyers may have been all the way down to the truth that BTC was caught in a part of consolidation. Traders normally discover such durations to be boring, so they have an inclination to place their consideration elsewhere.
With the most recent rally that has taken the cryptocurrency to a brand new all-time high (ATH), nonetheless, the indicator has seen a pointy surge, which means that the bullish worth motion has reignited curiosity in BTC.
For now, although, the rebound within the Bitcoin Spot Volume has been comparatively small, with the metric at present being considerably under the highs of late 2024 and early 2025.
It may now be value maintaining a tally of the indicator to see the way it will develop within the coming days, as buying and selling quantity has typically had an affect on the asset. “Sustained exercise shall be key, as continued power would assist market depth whereas fading quantity may sign waning momentum,” notes Glassnode.
In another information, CryptoQuant’s Bitcoin Bull Score Index has noticed a steep climb lately, as identified by Julio Moreno, the on-chain analytics agency’s head of analysis, in an X post.
The Bull Score Index makes use of the info of varied on-chain indicators associated to Bitcoin to find out what part of the market Bitcoin is in. Following the most recent rally, the metric has hit a price of 80, which is properly into the “bullish” zone.
BTC Price
Bitcoin is in ATH exploration mode proper now as its worth is floating across the $125,300 degree.
