Overview of Bitcoin’s Price Movement

The cryptocurrency community has been closely watching Bitcoin’s price as it struggles to regain the $80,000 mark. This level, previously a significant support, has now turned into a formidable resistance. The persistent bearish trend is casting a shadow over several key market segments, notably spot trading.

Spot Bitcoin Demand Continues to Wane

The cryptocurrency market was taken aback by Bitcoin’s recent sharp downturn over the weekend. Despite the initial steep drop, the ongoing correction shows signs of becoming more persistent, with spot trading exhibiting notable weakness.

According to a respected market analyst, Darkfost, who contributes to CryptoQuant, spot demand is consistently declining. This trend indicates a reluctance among buyers to absorb the selling pressure, leaving Bitcoin’s price vulnerable to even minor withdrawals.

As the market enters its fifth consecutive month of downward pressure, the lack of spot market buyers exacerbates the price decline. With fewer buyers stepping in, selling activity has a disproportionately large impact, further driving down the price.

Impact of the October 2025 Event

Darkfost points out that the correction is largely influenced by an event on October 10th, 2025, which significantly depleted liquidity, especially in the Futures market. On that day, Bitcoin’s Open Interest plummeted by more than 70,000 BTC, equating to over $8 billion in value. However, this is not the sole factor influencing the market.

The broader market liquidity is under strain, as evidenced by substantial stablecoin withdrawals from cryptocurrency exchanges. During this period, stablecoin market capitalization saw a decline of roughly $10 billion, underscoring the pressure on market liquidity.

Spot Trading Volumes Experience a Sharp Decline

Since October 2025, Bitcoin’s spot trading volume has halved. Binance remains the dominant platform, with a trading volume of $104 billion. In contrast, its volume nearly reached $200 billion in October, while Gate.io and Bybit recorded volumes of $53 billion and $47 billion, respectively.

This reduction in volume signals a notable disengagement from investors within the cryptocurrency market, leading to diminished demand. The current market environment remains uncertain and discourages risk-taking. For a sustainable recovery, it is crucial to monitor this trend closely and aim for a resurgence in spot trading volumes.

Current Market Status

As of now, Bitcoin is trading at $78,640, marking an increase of nearly 3% in the past 24 hours. However, its trading volume has decreased by over 16% in the same timeframe, indicating ongoing challenges in market dynamics.