Leverage outweighs liquidity as Bitcoin spot volumes drop 40% since January

05/08/2025 14:16
Leverage outweighs liquidity as Bitcoin spot volumes drop 40% since January

The Bitcoin market has shifted toward leverage, with derivatives now accounting for over 96% of daily trading volume.

Leverage outweighs liquidity as Bitcoin spot volumes drop 40% since January Leverage outweighs liquidity as Bitcoin spot volumes drop 40% since January 24 seconds ago · 2 min read

Leverage dominates Bitcoin’s tape in 2025, with futures driving volume and direction.

2 min read

Updated: May. 8, 2025 at 8:16 am UTC

Leverage outweighs liquidity as Bitcoin spot volumes drop 40% since January

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin’s market structure this year has shifted away from actual buying and toward leveraged speculation. With futures volume 13 times larger than spot, price moves are no longer grounded in liquidity.

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