K33: Bitcoin's July Transaction Volume Hits Lowest Level Since 2023

July 29th, K33 Research published an article stating that over the past week, Bitcoin has been consolidating in a narrow range between $60,000 and $66,000. The average daily spot trading volume in July was only about $2.2 billion, CME open interest approached a multi-year low, and perpetual contract open interest remained at around 300,000 bitcoins. Bitcoin's July trading volume hit the lowest level since November 2023.