Editor's PiCK
Bitcoin futures trading volume drops 20% last month... Will the 'summer slump' repeat?
Summary
- The Block reported that last month's Bitcoin futures trading volume fell by about 20%% compared to the previous month.
- It stated that this downward trend is similar to the slowdown in trading volume during last summer.
- The Block said that recent data could be a sign of another quiet summer.
Last month, Bitcoin (BTC) futures trading volume decreased by about 20% compared to the previous month, raising the possibility that a seasonal slump could return to the cryptocurrency market.
On the 4th (local time), the crypto-specialist media outlet The Block reported, "In June, total Bitcoin futures trading volume on centralized exchanges was about $1.55 trillion, which is around 20% lower than this year's monthly average ($1.93 trillion)."
In the market, there is speculation that a slowdown in summer trading volume, similar to last year, may be repeated.
According to the outlet, in June of last year, Bitcoin futures trading volume also fell by 15.7% from the previous month, and monthly average volume remained about 10% lower through September compared to the first half of the year. A similar trend began in July 2023 as well.
The Block added, "Although it is still too early to say for certain, recent data could be a sign of another quiet summer."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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