Bitcoin Spot, Perpetual Futures Volume Surges to Multi-Month High, Signaling Shift to Early Bull Phase
Summary
- Bitcoin spot and perpetual futures trading volume jumped to the highest level in months, suggesting the market is shifting from a bear market to an early bullish phase, according to the analysis.
- The report said the latest increase in trading volume coincided with a 24% rise in prices, rather than heavy selling, making it a signal aligned with a bullish trend.
- CryptoQuant said the return of volume is another sign that the bear market’s downtrend may be ending and that it is consistent with an early bullish phase across the market.
Forecast Trend Report by Period
Bitcoin spot and perpetual futures trading volumes climbed to their highest levels in months as prices rose, a sign the market may be shifting from a bear market into an early bull phase, according to CryptoQuant.
In its weekly report published Sept. 14, CryptoQuant said daily spot trading volume on crypto exchanges reached about $75 billion on Aug. 21, the highest since the February peak. Binance led with $19.4 billion, followed by Coinbase with $8 billion and Gate.io with $5.1 billion.
Trading also jumped in the derivatives market. Daily perpetual futures volume reached about $336 billion on the same day, the highest since March. Binance dominated with $124 billion, while OKX and MEXC posted $46 billion and $30 billion, respectively.
CryptoQuant highlighted that, unlike past spikes, the latest increase in trading volume came with rising prices rather than heavy selling. Earlier surges in volume this year were accompanied by strong selling pressure, but this time trading expanded as Bitcoin rose 24%.
The pace of the increase was also the fastest this year. As of Aug. 25, 30-day spot trading volume had risen 667% on Gate.io and 429% on Coinbase. Perpetual futures volume also increased across major exchanges, with Binance up 202% and Bybit up 184%.
CryptoQuant said the return of volume may be another sign that the bear market downtrend is ending and that the move is consistent with an early bullish phase across the broader digital-asset market.
