{"id":84787,"date":"2023-09-20T18:04:13","date_gmt":"2023-09-20T15:04:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84787"},"modified":"2025-09-12T19:27:18","modified_gmt":"2025-09-12T16:27:18","slug":"binances-bitcoin-spot-trading-volume-falls-57","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binances-bitcoin-spot-trading-volume-falls-57\/","title":{"rendered":"Binance’s Bitcoin spot trading volume falls 57%"},"content":{"rendered":"

The cryptocurrency exchange Binance led the ranking of declines in spot Bitcoin trading, with the metric down 57% since September 1, according to a report by K33<\/a>.<\/p>\n

\\\"Screenshot-2023-09-20-at-09\\\"
Seven-day moving average of Bitcoin spot trading volume on Binance. Data: K33.<\/figcaption><\/figure>\n

The total value across all platforms fell by 48%. Meanwhile, Bitcoin spot volumes fell by a further 8% compared with August’s five-year low<\/a>.<\/p>\n

Analysts noted that Binance is at the forefront of the decline, while other platforms show relatively stable figures.<\/p>\n

Analysts say Binance’s lag is due to ongoing legal battles with SEC<\/span> and CFTC<\/span>. However Coinbase, the nearest competitor, which is suing the regulator<\/a>, posted a 9% rise in spot trading of digital gold in September.<\/p>\n

Despite the decline in Bitcoin metrics, K33 noted a small rally in Ethereum and Binance Coin. In the last seven days, both coins rose 6%, trading above a three-week high.<\/p>\n

\\\"Screenshot-2023-09-20-at-10\\\"
Data: K33.<\/figcaption><\/figure>\n

According to the report, some indicators point to a bullish sentiment among traders of Bitcoin derivatives on the Chicago Mercantile Exchange. Last week there was a 19% increase in open interest for Bitcoin instruments by active market participants. However, the measure for ETH fell by 17%.<\/p>\n

Moreover, researchers observed a notable divergence in Bitcoin’s correlation with the S&P 500 and the DXY.<\/p>\n

\\\"Screenshot-2023-09-20-at-10-1\\\"
BTC\/S&P 500 correlation. Data: K33.<\/figcaption><\/figure>\n

Analysts say that in 2023 the direction of the crypto market largely depends on decisions regarding Bitcoin-ETF<\/a> and regulatory sentiment.<\/p>\n

According to CoinMarketCap, in the second quarter of 2023 the total spot trading volume across 20 leading Bitcoin exchanges fell 36%<\/a> \u2014 from $2.6 trillion to $1.66 trillion.<\/p>\n

In September, Matrixport analyst Marcus Tielen predicted<\/a> a rise in Bitcoin dominance as the risk of price declines grows for many well-known altcoins.<\/p>\n","protected":false},"excerpt":{"rendered":"

Binance led the decline in spot Bitcoin trading, with the metric down 57% since September 1.<\/p>\n","protected":false},"author":1,"featured_media":84788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1145],"class_list":["post-84787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=84787"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84787\/revisions"}],"predecessor-version":[{"id":84789,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84787\/revisions\/84789"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/84788"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=84787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=84787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=84787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}