The crypto market, and Bitcoin in particular, is going through a period where demand and trading volumes are collapsing.

On Binance, which accounts for nearly 40% of volume across all exchanges combined, BTC spot trading volumes have just dropped below $1B.

These are very low levels compared to the highs of March 2024, when several trading days exceeded $15B.

These are the lowest volumes recorded since the end of the last bear market, in 2023.

Such a collapse in volumes reflects a slowdown, or even a halt, in activity among a large share of investors. It's a sign of clear disinterest, one that's becoming quite extreme.

Paradoxically, this seemingly negative signal could represent an interesting window to build exposure, with volatility at its lowest.

Another notable fact, since 2020, Binance has recorded nearly $200T in cumulative volume on Bitcoin alone. To put that in perspective, that's roughly twice the size of the global money supply (M2).

Written by Darkfost