BTC had its best September ever this year, recovering by more than 8.4%, according to Kaiko's quarterly report.

Bitcoin rate for the year

Among the reasons for the decline in trading volumes on major platforms, analysts cite increased geopolitical tensions in the world, the upcoming US elections, and a high key rate. In addition, experts talk about the wait-and-see attitude that investors have taken "in anticipation of better times."

Alex Tseng named another possible reason, in his opinion, - seasonality. Historically, stock trading volumes have declined in the period May-October, and perhaps the same is observed on crypto exchanges.