Crypto spot trading volumes experienced a significant decline in late 2025, with Bitfinex reporting a 66% drop from the January peak. This downturn comes as traders have become more cautious, influenced by weaker ETF inflows and a less certain macroeconomic environment. According to CoinMarketCap data, 30-day spot volumes fell from over $500 billion in early November to approximately $250 billion by mid-December. Even during late November and early December, trading activity struggled to remain above the $300–$350 billion range, occasionally dipping toward $200 billion—a level not seen in several months. Notably, this decline followed a short-lived surge in mid-November, when volumes briefly exceeded $550 billion before quickly receding.
Overview of Crypto Spot Trading Volume Decline in Late 2025
Bitfinex highlighted that the current slowdown in spot trading activity closely resembles lulls observed before previous major market cycle moves. These periods of reduced volume have historically signaled the approach of the next phase in the market cycle. The sharp drop in trading volumes suggests that many participants are waiting on the sidelines, possibly anticipating significant developments ahead. See also: Bitcoin Long-Term Holder Supply Decline and Price Support Analysis
Market Cycle Implications of Volume Lulls
According to Bitfinex, such lulls are common before the next leg up in the crypto market cycle. The current environment mirrors earlier patterns, where extended periods of low activity often preceded renewed momentum. Analysts are interpreting this phase as a potential prelude to a breakout, with the market consolidating before a possible move. See also: Bitcoin Drops Below $86,000 Amid $2.78B Whale Selling Pressure
Bitcoin Price Action and Key Levels in December 2025
During this period, Bitcoin managed to maintain support at $89,000 and resistance at $92,000. Early in the week, the price briefly reached $94,330, driven in part by a $962 million Bitcoin purchase by Strategy—their largest investment since mid-2025. However, this rally was short-lived as traders awaited the outcome of the final Federal Open Market Committee meeting of the year. Analysts suggest that if Bitcoin breaks above resistance, it could target $100,000 before 2026, while a loss of support may lead to a retest of lower price ranges.
Impact of Federal Reserve Rate Cut on Crypto Markets
The Federal Reserve implemented a widely anticipated 25-basis-point rate cut in December 2025. While this initially provided a modest boost to the crypto market, the effect was fleeting. According to CoinEx analyst Jeff Ko, the rate cut had limited impact because it was already factored into market expectations, offering little additional upside for cryptocurrencies.
Notable Institutional Activity and Analyst Insights
Institutional activity remained notable, with Strategy making a $962 million Bitcoin purchase—their largest since mid-2025. Analyst Michaël van de Poppe pointed out that upcoming macroeconomic events could lead to increased volatility for Bitcoin in the coming days. He emphasized the importance of key price levels and the likelihood of significant price movement as the market responds to new developments. See also: Crypto Market Correction Amid Fed Chair Uncertainty and AI Bubble Fears
Why This Matters
For miners operating in Russia with anywhere from a handful to a thousand devices, understanding these market lulls is crucial. A significant drop in trading volumes can signal a period of consolidation, which often comes before renewed price movement. This knowledge can help miners anticipate potential changes in profitability and adjust their strategies accordingly. Additionally, awareness of key Bitcoin price levels and macroeconomic events, such as Federal Reserve decisions, can provide valuable context for planning operational and investment decisions.
What Should Miners Do?
- Monitor Bitcoin’s key support and resistance levels ($89,000 and $92,000) for potential breakout or breakdown signals.
- Stay informed about macroeconomic events, especially central bank decisions, as these can influence market sentiment and volatility.
- Be prepared for increased price swings in the near future, as analysts expect volatility to rise.
- Review operational plans and risk management strategies to ensure flexibility during periods of market uncertainty.
