On-chain data shows the Bitcoin Spot Volume has witnessed a rebound alongside the latest price rally, indicating a return of trading interest.
When the value of this metric rises, it means a larger amount of coins are being shifted on the spot exchanges. Such a trend implies trading interest in the cryptocurrency is going up.
On the other hand, the indicator registering a decline implies investors are dropping their spot trading activity, a potential sign that attention is moving away from the asset.
Now, here is the chart shared by Glassnode that shows how the Bitcoin Spot Volume has changed over the last couple of years:
As displayed in the above graph, the Bitcoin Spot Volume fell to relatively low levels in September, suggesting that there wasn’t much trading activity occurring on the spot platforms.
For now, though, the rebound in the Bitcoin Spot Volume has been relatively small, with the metric currently being significantly below the highs of late 2024 and early 2025.
It could now be worth keeping an eye on the indicator to see how it will develop in the coming days, as trading volume has often had an influence on the asset. “Sustained activity will be key, as continued strength would support market depth while fading volume could signal waning momentum,” notes Glassnode.
The Bull Score Index uses the data of various on-chain indicators related to Bitcoin to determine what phase of the market Bitcoin is in. Following the latest rally, the metric has hit a value of 80, which is well into the “bullish” zone.
Bitcoin is in ATH exploration mode right now as its price is floating around the $125,300 level.
