👀 Bitcoin Spot Trading Volume Plunges to Lowest Level Since 2023 🔹 Spot trading volumes for Bitcoin have dropped to their lowest levels since the 2023 bear market. However, dwindling exchange reserves of the flagship cryptocurrency indicate that investors continue to systematically accumulate coins, according to CryptoQuant analysts. 🔹 On-chain analyst Darkfost highlighted that July trading metrics confirm a sustained decline in spot trading engagement across the market. 🔹 On Binance, July spot trading volume barely topped $35 billion, down drastically from $246 billion recorded in November 2024. A similar cooling trend is evident across other major exchanges. 🔹 Key catalysts behind this subdued market activity include geopolitical tensions between the US and Iran, persistently high central bank interest rates driven by inflation risks, and capital rotation away from crypto into equity markets, particularly the tech sector.