As we move into the second half of 2025, Bitcoin is experiencing low volatility and monthly trading volume decline, amid the context of spot Bitcoin ETFs in America approaching a net inflow accumulation of 50 billion USD.
According to data from The Block, the expected volatility index “at-the-market” of Bitcoin — a measure forecasting the price volatility over periods ranging from 7 days to 6 months — has fallen to its lowest level since October 2023. At that time, the price of Bitcoin was only about one-third of what it is now.
Along with low volatility, the monthly trading volume on the Bitcoin network in June fell by 15% compared to May, hitting the lowest level since October 2023. Trading activity in recent weeks has also dropped to a bottom, with some transactions with extremely low fees still being selectively chosen by miners from the mempool to be included in blocks.
Although the network is not very active, demand from Wall Street for BTC continues to rise. The Bitcoin spot ETF funds in America are continuously setting new records in accumulated capital flows. Just in the last two days of the previous weekend, these funds attracted over 1 billion USD, bringing the total accumulated net capital flow to nearly 50 billion USD. The total value of BTC that these funds currently hold is about 137.6 billion USD — the highest level ever, according to data from SoSoValue.
Publicly listed companies have also been actively buying in June, with about 65,000 BTC ( equivalent to 7 billion USD at current prices ), according to data from BitcoinTreasuries. An analysis from Glassnode in June showed that although on-chain activity was almost “absent”, the number of transactions coming from institutions and individuals holding large assets increased significantly, indicating the growing role of institutions and whales on the Bitcoin network.
Meanwhile, the volume of Bitcoin futures trading is showing signs of falling, which could be a signal for an upcoming summer lull for the world’s largest cryptocurrency, according to The Block.
Thạch Sanh
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