On Binance the volume fell by USD 25 billion in just one month.
Macroeconomics continue to weigh on market sentiment, says analyst Darkfost.
The spot trading volume (spot) of bitcoin (BTC) has registered a marked drop during the month of April 2026, falling to 68,638 million dollars. This level of activity has not been seen since September 2023, when the volume was around $50 billion.
This decline indicates that the direct purchase and sale of the asset has lost traction. The market is coming from its peak of $385,825 million recorded in March 2024, the highest point of the entire period analyzed. Since that peak, activity has experienced a downward trend.
This happens for a marked apathy among investors, who have reduced their participation across the board. According to data from the CryptoQuant platform, this trend reflects a clear slowdown that affects all major platforms in the global ecosystem.
Binance, the exchange with the largest market share, leads this decline with a loss of $25 billion in volume in just thirty days. This behavior is not isolated, since other major competitors have experienced proportional setbacks in their daily operations.
For example, the Gate.io exchange saw its volumes halved after suffering a $13 billion drop. For its part, OKX recorded a decline of $6 billion, confirming that lack of liquidity is a current systemic problem.
Regarding the context of these events, the analyst who identifies himself as “Darkfost” points out that “the macroeconomic outlook continues to weigh on market sentiment.” This statement alludes to external variables, such as geopolitical tensions and the decisions of the United States Federal Reserve (FED) to maintain interest rates, condition the flow of money.
Specifically, the conflict in the Middle East between the United States and Iran casts a shadow of doubt over financial markets. Although there is currently a ceasefire that has paused direct hostilities, as reported by CriptoNoticias, The lack of a final diplomatic resolution prevents clarity about what will happen in the near future.
Darkfost explains that “many investors are hesitant to build exposure spot in the long term, lacking a clear conviction about the medium-term prospects. The lack of positive economic signals prevents traders from buying the asset to hold it.
As a closing to this cycle of low activity, the specialist maintains that “this contraction in volumes therefore reflects a temporary loss of interest in bitcoin.” However, he clarifies that, “these phases of apathy are usually also the moment where new opportunities begin to emerge.”