Bitcoin Spot Volume Rebounds As Price Hits ATH, But Still Far Below Late-2024 Highs

On-chain data shows the Bitcoin Spot Volume has witnessed a rebound alongside the latest price rally, indicating a return of trading ￰0￱ Spot Volume Has Gone Up Recently In a new post on X, on-chain analytics firm Glassnode has talked about the latest trend in the Bitcoin Spot ￰1￱ “ Spot Volume ” here refers to an indicator that keeps track of the total amount of BTC that’s becoming involved in trading activities on centralized spot ￰2￱ the value of this metric rises, it means a larger amount of coins are being shifted on the spot ￰3￱ a trend implies trading interest in the cryptocurrency is going ￰4￱ the other hand, the indicator registering a decline implies investors are dropping their spot trading activity, a potential sign that attention is moving away from the asset.

Now, here is the chart shared by Glassnode that shows how the Bitcoin Spot Volume has changed over the last couple of years: As displayed in the above graph, the Bitcoin Spot Volume fell to relatively low levels in September, suggesting that there wasn’t much trading activity occurring on the spot ￰5￱ loss in interest from investors could have been down to the fact that BTC was stuck in a phase of ￰6￱ usually find such periods to be boring, so they tend to put their attention ￰7￱ the latest rally that has taken the cryptocurrency to a new all-time high (ATH) , however, the indicator has seen a sharp surge, meaning that the bullish price action has reignited interest in ￰8￱ now, though, the rebound in the Bitcoin Spot Volume has been relatively small, with the metric currently being significantly below the highs of late 2024 and early ￰9￱ could now be worth keeping an eye on the indicator to see how it will develop in the coming days, as trading volume has often had an influence on the asset.

“Sustained activity will be key, as continued strength would support market depth while fading volume could signal waning momentum,” notes ￰10￱ some other news, CryptoQuant’s Bitcoin Bull Score Index has observed a steep climb recently, as pointed out by Julio Moreno, the on-chain analytics firm’s head of research, in an X ￰11￱ Bull Score Index uses the data of various on-chain indicators related to Bitcoin to determine what phase of the market Bitcoin is ￰12￱ the latest rally, the metric has hit a value of 80, which is well into the “bullish” ￰13￱ Price Bitcoin is in ATH exploration mode right now as its price is floating around the $125,300 level.