BTC Spot Volumes Halve as CEX Trading Shifts to HODL Mode

Key Points:

• Bitcoin spot trading volumes halved from $636B in January to $322B in August 2025.
• U.S. Bitcoin ETFs saw 5,900 BTC in daily inflows on September 10th, reversing recent outflows.
• Realized profits declined to 23,000 BTC, showing reduced selling pressure and stronger HODL behavior.
  

Bitcoin spot trading volumes dropped sharply from $636 billion in January to $322 billion by August 2025. This 49% decline reflects fading activity on centralized exchanges, where both liquidity and enthusiasm have declined.

Despite reduced volumes, Bitcoin’s price remained steady, suggesting that investors are increasingly favouring long-term holding strategies. As a result, market behavior continues shifting away from speculation and toward accumulation.

ETF Inflows Signal Renewed Institutional Confidence

On September 10th, U.S. spot Bitcoin ETFs recorded net inflows of around 5,900 BTC, marking the strongest daily inflow since July. This reversed recent outflows and turned the weekly net flows positive, showing renewed demand for ETF exposure.

These inflows coincided with Bitcoin consolidating above $114,000, which has encouraged more institutional interest. As price stability holds, investor appetite for regulated Bitcoin products appears to be strengthening.

Selling Pressure Declines as Profit-Taking Slows

Meanwhile, on-chain data shows a clear decline in realized profits, with only 23,000 BTC taken as profit in recent weeks. This is significantly lower than earlier 2024 peaks of 48,000 BTC and 39,000 BTC.

The drop in profit-taking suggests more holders are choosing to stay in the market instead of exiting during rallies. This behavior supports the growing trend of holding, driven by rising confidence in Bitcoin’s long-term potential.

Support Levels Hold as Market Eyes Higher Targets

Looking at price, Bitcoin has successfully held above $106,388, a key support that previously marked the top of its trading range. Additional support zones at $99,437 and $91,095 remain intact, providing further downside protection.

After forming a double bottom earlier in the year, Bitcoin’s price structure remains bullish. If momentum continues, the market could target a new all-time high in the $130,000 to $145,000 range in the coming months.