Institutional Activity Persists in Bearish Crypto Market

A review of the current state of cryptocurrency markets reveals a mixed picture. On one hand, spot trading volume has fallen to its lowest level in two years, and perpetual futures volume has declined significantly.

However, this drop in trading activity is not necessarily indicative of institutions abandoning Bitcoin. In fact, data from CryptoQuant suggests that professional capital remains active in the market.

The average trade sizes on exchanges such as Gate, Kraken, and OKX continue to be large, indicating ongoing institutional participation. Additionally, exchange reserves have fallen to near multi-year lows, with investors withdrawing coins rather than preparing them for sale.