PANews reported on April 7 that, according to a report released today by BIT independent analyst Markus Thielen, cryptocurrency spot trading volume has declined sharply, with the average daily trading volume falling from $41 billion in December 2024 to $26.6 billion in October 2025, and further dropping to only $8 billion in the past 30 days.

Spot trading volume, a key indicator of altcoin performance, reflects market participation and risk appetite. The current decline in trading activity explains the continued weakness of altcoins: sluggish trading activity has led to price stagnation and deteriorating market sentiment. Any sustained altcoin rally depends on a substantial recovery in trading volume. In the absence of a clear catalyst, a broad-based altcoin rally is unlikely; current trading volume is concentrated in a few altcoins, and overall market participation remains low.