Bitcoin futures trading volume drops 20% in June... "Indicates possible summer lull"
Summary
- June's Bitcoin futures trading volume was reported to be about $1.55 trillion, down approximately 20% from the previous month.
- A similar seasonal downtrend was also observed in 2023, with trading volume in July plunging about 30% from the previous month.
- The Block assessed that the June data suggests a possibility of a lull in the Bitcoin market this coming summer.
Signs of a summer lull are emerging in the virtual asset (cryptocurrency) market.
According to The Block on the 4th (local time), the total Bitcoin (BTC) futures trading volume in June was about $1.55 trillion (₩2,112 trillion), down about 20% from the previous month.
From January to May this year, the monthly average trading volume of Bitcoin futures was around $1.93 trillion. The June figure is about 20% lower than the monthly average from January to May.
A similar seasonal downtrend was observed in 2023. At that time, the average monthly trading volume from January to June was $1.03 trillion, but in July it plunged to $717 billion, down about 30% from the previous month. Subsequently, trading volume continued to fall in August and September by another 2.4% and 21.5%, respectively, showing a declining trend for three consecutive months.
Regarding this, The Block diagnosed, "It is still too early to be certain, but the June data suggests a possibility that the Bitcoin market could remain quiet this summer as well."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
