Crypto Spot Volume Plummets to $1.59T in November — Lowest Since June

Published: 2025-12-01 04:14:05 |

Crypto spot trading volume fell sharply to $1.59 trillion in November, a 26.7% month-on-month decline from October’s $2.17 trillion and the lowest level since June. Data reported by The Block shows the drop was broad-based across centralized exchanges; Binance’s spot volume alone fell about 26% from $810.4 billion in October to $599.3 billion. Analysts including Vincent Liu (Kronos Research) attribute the slowdown to profit-taking after recent rallies and reduced liquidity, which removed volatility and upward momentum that drive trading activity. For traders, lower spot volume typically means reduced volatility and thinner order books — fewer short-term trading opportunities but a potential window for accumulation and research. Recommended actions include reviewing portfolios, dollar-cost averaging, setting alerts, and preparing trade plans for when volume returns. The report frames November’s collapse as a normal cooling phase following an overheated market rather than definitive evidence of a sustained bear market.

Neutral

The drop in spot volume to $1.59T is significant and signals reduced trading activity, but the causes cited—profit-taking after a rally and evaporating liquidity—are typical cyclical dynamics rather than structural failures. Broad-based volume declines, including a roughly 26% fall at Binance, lower volatility and thin order books, which can suppress short-term trading opportunities (bearish for intraday traders) while presenting accumulation and planning opportunities for longer-term investors (neutral-to-bullish in context). Historically, crypto markets have shown similar post-rally cool-downs (e.g., mid-2023) that preceded later trend resumption. Therefore the immediate impact is a neutral-to-cautious market tone: short-term momentum and liquidity risk rise, but no clear signal of a sustained bear market. Traders should expect lower volatility, wider spreads, and occasional price sensitivity to large orders until volume and momentum return.