- •BTC futures trading volume on CEXs halved in 2025
- •Decline reflects reduced speculative activity in crypto
- •Market awaits catalysts to revive derivatives interest
The BTC futures trading volume on centralized exchanges (CEXs) has seen a sharp decline since the start of 2025. According to the latest market data, the total trading volume of Bitcoin futures has dropped by approximately 50% over the past nine months.
This drop indicates a significant cooling in speculative interest and leveraged trading within the crypto space. While spot trading remains relatively stable, the derivatives market—often viewed as a barometer for trader sentiment—has clearly pulled back.
Why the Decline in BTC Futures?
Several factors may have contributed to the falling BTC futures trading volume:
- •Market Uncertainty: Regulatory pressures in major markets like the U.S. and Europe have made institutional and retail traders more cautious.
- •Lower Volatility: Bitcoin has traded within a tighter range for much of 2025, reducing the appeal of leveraged futures trades.
- •Shift to Other Assets: Some investors are shifting focus to altcoins, real‑world asset (RWA) tokens, and Ethereum‑based products.
This trend might not necessarily indicate bearish sentiment but rather a transition to safer or longer‑term investment strategies amid macroeconomic uncertainty.
Since the beginning of the year, the trading volume of BTC futures on CEX exchanges has decreased by half. pic.twitter.com/BRquQYtkGC
— Axel Adler Jr (@AxelAdlerJr) October 3, 2025
What’s Next for Futures Markets?
Analysts suggest the futures market could rebound if volatility returns to Bitcoin or if macroeconomic events, such as interest rate decisions or ETF approvals, reignite trader enthusiasm.
For now, the drop in BTC futures trading volume signals a more conservative approach from market participants, favoring risk management over high‑leverage plays.