🔥 The trading volume of crypto spot trading has plummeted, and analysts say the likelihood of a broad rally is low.

On April 7, independent analyst Markus Thielen released a chart analysis indicating that the crypto spot trading volume has significantly declined, with the average daily trading volume dropping from $41 billion in December 2024 to $26.6 billion in October 2025, and over the past 30 days, it has fallen to just $8 billion. Spot trading volume is a key indicator of altcoin performance, reflecting market participation and risk appetite. The current contraction in trading activity helps explain the continued weakness of altcoins: sluggish trading activity translates into stagnant price trends and worsening market sentiment. For any sustained altcoin rally to truly take off, a substantial rebound in trading volume is necessary. In the absence of clear catalysts, the possibility of a broad upward movement remains low. Currently, trading volume is...