Key highlights:
In October 2025, Bitcoin spot market trading volume reached $300 billion amidst significant volatility.
Research indicates that Binance dominated with $174 billion traded.
Traders are displaying “highly constructive” attitudes towards future market stability.
During “Uptober” 2025, Bitcoin (BTC) exchanges recorded an impressive $300 billion in spot trading volume.
Data from the onchain analytics platform CryptoQuant demonstrates that even with BTC price dips, the market remains “healthy.”
Binance at the forefront of Bitcoin spot volume recovery
Bitcoin exchanges showed no drop in spot trading volume this month, despite a nearly 20% decline from its peak price.
CryptoQuant’s analysis of global exchange data highlights that total spot volume in October has topped $300 billion.
“This October has witnessed a renewed spike in spot market interest, particularly on Binance,” contributor Darkfost noted in one of its “Quicktake” blog entries.
“Major exchanges have reported over $300B in Bitcoin spot volume this month, with Binance accounting for $174B, marking it as the second-highest month of the year.”
These figures are crucial for Bitcoin advocates, as a market primarily driven by spot trading tends to better withstand short-term volatility compared to one dominated by derivatives.
“This trend reflects increasing engagement from both retail and institutional traders, who seem more active in the spot markets,” Darkfost added.
BTC spot volume trend considered “highly constructive”
As Cointelegraph previously reported, Bitcoin’s swift drop from its all-time highs earlier in the month eliminated a significant amount of derivatives open interest (OI).
Related: Bitcoin vs. history: BTC price hints at 7% gains as ‘golden week’ concludes
This event also triggered the liquidation of a record $20 billion in both long and short positions, with analysts estimating the actual total could be much higher.
According to CryptoQuant, traders have since reverted to spot markets as a response.
“This is a highly constructive signal,” the blog post concluded.
“A market primarily influenced by spot trading, rather than derivatives, is generally healthier, more stable, and less susceptible to extreme volatility caused by excessive open interest. It indicates stronger organic demand and overall market robustness.”
Since the decline, leveraged traders have alternately gained and lost significantly due to market fluctuations.
This article does not offer investment advice or recommendations. Every investment and trading decision entails risk, and readers should conduct their own research before making a decision.
