Feb 27, 2026
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BEARISH 📉 : Bitcoin spot trading hits 2024 low amid market pullback
Bitcoin spot trading activity has decreased to its lowest level of 2024, with a noticeable decline in risk-taking among traders. February is expected to close as the month with the lowest Bitcoin spot volumes since the start of 2024.
Key Points:
- Spot trading volumes have significantly declined across major exchanges, including Binance, Gate.io, and Bybit.
- Binance's volume dropped from $198 billion to $75 billion, Gate.io from $53 billion to $25 billion, and Bybit from $41 billion to $20 billion.
- The decrease in liquidity is linked to an October event where open interest fell by over 70,000 BTC, leading to broader market disengagement.
Coinbase Pressure Easing:
- CryptoQuant CEO noted easing selling pressure on Coinbase, with the Coinbase Premium Index turning positive.
- The premium recovered to approximately 0.006 while Bitcoin traded near $68,300.
- This suggests reduced US-led sell pressure, although overall spot liquidity remains thin.
Market Outlook:
- The current market phase is characterized by cautiousness, with participants prioritizing capital preservation.
- A bullish recovery or durable bottom requires stronger spot volume support.
At press time, Bitcoin was trading at $68,153.
