The 7-day moving average has fallen to $21.4 billion from $104.3 billion, with analysts pointing to a wait-and-see mood and The Block data showing activity near one-year lows in July 2026.
Crypto spot trading volume has remained weak, with the 7-day moving average falling to about $21.4 billion from a peak of $104.3 billion recorded in October 2025, a drop of nearly 80%. Analysts said the bigger risk is not just the decline itself but a wait-and-see mood driven by a lack of clear market direction. The Block data shows spot volumes have retreated to near one-year lows as of July 2026, reinforcing signs of subdued participation and softer liquidity in the market.