Bitcoin spot volume in July lowest since November 2023

The Bitcoin market is experiencing an exceptionally quiet July. Research firm K33 Research reports that trading activity this month is at its lowest level since November 2023, while the Bitcoin price has fallen by around 3% over the past week and is hovering around $63K.

Bitcoin is available at OKX and Bybit.

Spot volume at lowest point in nearly three years

According to K33 Research, the average daily Bitcoin spot volume in July 2026 stands at just $2.2 billion. This puts July on track to record the lowest monthly average spot trading since November 2023. Earlier, it was already noted that Bitcoin spot volume had fallen sharply compared to the peak at the end of 2024, and that trend is now continuing.

Bitcoin remains trapped in a narrow consolidation range between $60.000 and $66.000. The price has fallen by about 3% over the past week and currently stands at $63.691, representing a daily loss of 0.2%. The market shows little momentum and offers traders limited scope for big moves.

Open interest remains low across the board

Not only spot volume is disappointing, the derivatives market is also showing little activity. The open interest on CME Bitcoin futures remains near multi-year lows. The perpetual futures open interest is stagnating at around 300,000 BTC, indicating limited speculative interest from both institutional and retail investors.

Overall market activity thus remains subdued on all fronts. Earlier, Bitcoin ETFs have already seen capital outflows for several consecutive days, further reinforcing the broader picture of a quiet and wait-and-see market. Whether the market will break out of this deadlock in the short term remains to be seen.