Bitfinex says crypto spot trading activity has declined sharply this quarter, with volumes falling 66% from January’s highs as traders pull back amid weaker ETF inflows and ongoing macroeconomic uncertainty.
In a Sunday post on X, the exchange said the slowdown resembles patterns seen in previous market cycles, noting that extended periods of low activity often “precede the next leg of the cycle.”Data from CoinMarketCap shows 30-day crypto spot volumes dropping from more than $500 billion in early November to around $250 billion this week.Throughout late November and early December, trading activity struggled to remain above the $300–$350 billion range, with several sessions dipping toward $200 billion—levels not seen for months. The downturn followed a brief surge in mid-November, when volumes topped $550 billion before quickly retreating, according to the data.
Bitcoin Nears Potential Breakout as Key Levels Tighten
Market analysts say current conditions resemble past pre-breakout phases, with Bitcoin’s price structure compressing ahead of possible volatility. In a recent post on X, analyst Michaël van de Poppe highlighted the tightening range, noting that major macroeconomic events in the coming week could trigger sharp price swings.
“Bitcoin is holding above a critical level, and volatility is likely to increase significantly over the next few days,” he said.
Van de Poppe identified $89,000 and $92,000 as key technical levels. A decisive break above resistance, he argued, could accelerate a move toward $100,000 before 2026, while a loss of support may prompt a retest of lower price ranges.
Bitcoin Slips Despite Fed Rate Cut
Bitcoin briefly surged to $94,330 earlier in the week, supported by Strategy’s $962 million purchase—its largest Bitcoin acquisition since mid-2025. The rally, however, quickly lost momentum as traders awaited the Federal Reserve’s final policy decision of the year.
On Wednesday, the Fed delivered a widely anticipated 25-basis-point interest rate cut. While the decision initially lifted markets, sentiment cooled shortly after. CoinEx analyst Jeff Ko said the move failed to provide sustained upside because it had already been “priced in” by market participants.
