Binance Bitcoin volume ratio hits record as futures outweigh spot eight times over
Bitcoin trading activity on Binance is increasingly dominated by derivatives. CryptoQuant data shows the futures-to-spot volume ratio hit a record 7.82, with daily futures volume at $57.82 billion versus $6.08 billion in spot. This suggests traders are favoring leveraged, short-term, and risk-management strategies over direct BTC purchases. Spot demand has weakened for months, especially among retail traders, while Bitcoin has stayed mostly rangebound above $60,000. CryptoQuant notes that both spot and derivatives demand are declining on a 30-day basis, with spot falling more steadily since June. Bitfinex also sees fading volume across both markets, indicating little conviction from either buyers or sellers. Options positioning suggests traders expect the current range to persist in the near term, but many are hedging for a downside break later in September.
