K33: Bitcoin's trading volume in July hit the lowest record since 2023

K33 Research stated that Bitcoin has been consolidating in a narrow range between $60,000 and $66,000 over the past week. The average daily spot trading volume in July was only about $2.2 billion, with CME open interest close to multi-year lows, and the open interest for perpetual contracts stagnating at around 300,000 Bitcoins.

Bitcoin's trading volume in July set the lowest record since November 2023.