Data: Binance Bitcoin futures cumulative trading volume approaches 8 trillion USD

CryptoQuant analyst Darkfost posted on the X platform that the recent pullback of Bitcoin from about $82,000 to below $60,000 has significantly increased speculative activity in the derivatives market. Since the beginning of June, Binance futures daily trading volume has peaked at $39.5 billion and $35.5 billion. In early February, when Bitcoin fell below $60,000, the daily volume exceeded $42 billion. In contrast, Binance spot daily trading volume increased from about $1.5 billion to $4-5 billion, but it is still far below the peak of over $10 billion in early February.

Darkfost pointed out that the cumulative trading volume of Binance Bitcoin futures has approached $8 trillion, exceeding the global annual GDP and the valuation of the global real estate market. Although the recent surge in trading activity may have contributed to the formation of a local bottom, a market structure primarily driven by leverage is usually more fragile than one supported by strong spot demand.