Bitcoin News Today: Bitcoin Volumes Cool From July Peak But Stay Above Early Levels Amid Market Stability

Bitcoin’s trading volumes have retreated from the mid-July surge but remain elevated compared to early-July levels, indicating that the market is in a phase of consolidation rather than decline. On-chain data from Glassnode shows that spot trading volume peaked at $10.22 billion on July 16, while futures volume reached $60.17 billion. By August 7, those figures had declined to $6.61 billion and $41.05 billion, respectively. These levels, while reduced, are still significantly higher than the early-July numbers, when spot volume had fallen to $4.85 billion and futures to $33.82 billion [1].

The pullback in volume appears to be part of a natural market cooldown after a period of intense speculative activity, particularly in the futures segment. The spot market has maintained strong support, with consistent buying interest from both retail and institutional participants. This suggests that while the feverish trading pace has eased, the underlying demand for Bitcoin remains robust [1].

Price action has been similarly contained, with Bitcoin trading within a tight range between $114,000 and $118,000 since the end of July. Analysts remain divided on the next potential direction. Some predict a possible upward movement to around $133,300 later in the month, while others suggest that a breakout above $115,500 may be necessary to confirm a bullish trend [1]. Institutional investment into crypto-related products and ETFs has played a stabilizing role, as have recent U.S. regulatory changes that permit crypto and private equity investments in 401(k) retirement accounts. On August 8, Bitcoin traded near $116,600, showing the positive impact of these developments [1].

However, macroeconomic uncertainties continue to influence sentiment. A weaker-than-expected U.S. jobs report and renewed concerns over potential tariff increases caused a temporary dip in Bitcoin’s price to around $115,200 earlier in the week. These developments highlight the extent to which the cryptocurrency remains sensitive to broader economic trends [1].

Despite the decline in volume, the market remains in a holding pattern rather than retreating. The stability of Bitcoin’s price above $114,000 signals that investors are waiting for the next major catalyst—be it new institutional investment, favorable macroeconomic news, or a renewed wave of speculative buying—to drive the next leg of the market’s trajectory [1].

Source: [1] BlockchainReporter – [https://blockchainreporter.net/bitcoin-btc-volumes-pull-back-from-mid-july-frenzy-as-market-holds-steady-above-114k/](https://blockchainreporter.net/bitcoin-btc-volumes-pull-back-from-mid-july-frenzy-as-market-holds-steady-above-114k/)