BTC Spot Volumes Halve as CEX Trading Shifts to HODL Mode

Bitcoin

BTC Spot Volumes Halve as CEX Trading Shifts to HODL Mode

• Bitcoin spot trading volumes halved from $636B in January to $322B in August 2025.
• U.S. Bitcoin ETFs saw 5,900 BTC in daily inflows on September 10th, reversing recent outflows.
• Realized profits declined to 23,000 BTC, showing reduced selling pressure and stronger HODL behavior.

Bitcoin spot trading volumes dropped sharply from $636 billion in January to $322 billion by August 2025. This 49% decline reflects fading activity on centralized exchanges, where both liquidity and enthusiasm have declined.

Bitcoin Spot Volume (Monthly Timeframe) || Source : glassnode

These inflows coincided with Bitcoin consolidating above $114,000, which has encouraged more institutional interest. As price stability holds, investor appetite for regulated Bitcoin products appears to be strengthening.

Selling Pressure Declines as Profit-Taking Slows

Meanwhile, on-chain data shows a clear decline in realized profits, with only 23,000 BTC taken as profit in recent weeks. This is significantly lower than earlier 2024 peaks of 48,000 BTC and 39,000 BTC.

Realised Profit and Loss (BTC) | Source : Checkonchain

The drop in profit-taking suggests more holders are choosing to stay in the market instead of exiting during rallies. This behavior supports the growing trend of holding, driven by rising confidence in Bitcoins long-term potential.

Support Levels Hold as Market Eyes Higher Targets

Looking at price, Bitcoin has successfully held above $106,388, a key support that previously marked the top of its trading range. Additional support zones at $99,437 and $91,095 remain intact, providing further downside protection.

Source : X

After forming a double bottom earlier in the year, Bitcoins price structure remains bullish. If momentum continues, the market could target a new all-time high in the $130,000 to $145,000 range in the coming months.