Bitcoin Spot Volume Exceeds $300B as Exchange Reserves Drop
Bitcoin spot trading volume topped $300 billion in October 2025, marking the second-highest monthly total this year. Binance led with $174 billion in spot volume. On-chain data shows exchange reserves fell from 2.65 million BTC to 2.38 million BTC, indicating increased self-custody and accumulation. Whale selling and retail buying drove liquidity, while traders shifted from leveraged derivatives to spot markets, reflecting stronger organic demand.
Despite a 1.2% gain early in October, Bitcoin ended the month down 2.69%, trading near $110,337 after Federal Reserve announcements. The surge in Bitcoin spot trading volume and declining exchange reserves suggests growing market maturity, reduced volatility, and more sustainable price discovery. Traders should monitor on-chain metrics and exchange reserve changes for potential entry points as the market moves toward spot liquidity ahead of 2026.
Bullish
The surge in Bitcoin spot trading volume above $300 billion, combined with a drop in exchange reserves, signals stronger organic demand and reduced sell-side pressure. Traders moving from derivatives to spot markets typically lowers leverage-driven volatility, supporting more stable price discovery. Short term, this may underpin a bullish sentiment as liquidity shifts to spot liquidity, improving market depth. Long term, sustained accumulation off-exchange and declining reserves point to a maturing market with healthier fundamentals, which is generally bullish for Bitcoin’s price trajectory.