The rebound in digital assets since early April has been marked by a significant change in activity, the hours of Asian negotiations earning a market share in the Bitcoin Global
Ether and Solana Spot Trading Volumes, while the United States regularly loses ground.
The share of hours of American negotiation of the volume in cash in the three main tokens dropped below 45% on a simple 30 -day mobile basis, after having culminated at a top of more than 55% at the beginning of 2025, according to the data followed by Falconx of the institutional brokerage firm of Crypto Prime. The last reading is the weakest since the victory of the pro-Crypto Donald Trump in the November presidential election.
Meanwhile, Asian negotiation hours now represent almost 30% of world activity, Europe representing the rest.
The slower activity in the United States represents a change in the mixture of investors stimulating prices, according to Falconx.
“This may indicate an increased influence on non-American wallet flows or suggest that American investors are focused more in the markets beyond the crypto spot,” said Falconx, David Lawant, in a shared note with Coindesk.
Bitcoin, the main cryptocurrency by market value, jumped 40% to $ 105,000 since it reached low $ 75,000 in early April, according to Coindesk data. Ether and Solana jumped 87% and 68%, respectively, during the same period.
Low volume BTC rally
Although the Bitcoin price has reached new heights, the world’s trading activity activity has not yet returned to levels observed at the start of this year.
According to Falconx, the daily volume on the BTC points markets, which reached an average of more than $ 15 billion on a hilly 30 -day basis after the November elections, decreased during the sale of April and has since held less than $ 10 billion.
A low -volume rally is often considered a bear trap. However, this is not necessarily the case this time, because ETFs have recently gained popularity as investment vehicles.
According to Falconx, the cumulative volume of the 11 ET Bitcoin of 11 American points increased from around 25% of the world volume of the BTC market to a record of 45% in less than two months.
The peak in the volume of ETF comes mainly from daring directional Paris rather than non -directional arbitration Paris such as the trade of money and transport, involving a long position in the ETF and a short simultaneous position in the CME BTC term contracts.
The 11 ETF Spot have raised $ 44 billion in net entries since the creation in January 2024, according to Farside Source de Data investors. The Ibit of Blackrock, the most important of all, attracted $ 6.35 billion in May, the most since January 2025, indicating an increasing institutional demand from BTC in the midst of trade tensions and bond market.
“All this indicates a place for growth and suggests that ETFs should remain force majeure behind demand in this gathering,” said Lawant.
