The Bitcoin futures-to-spot ratio is currently at yearly lows, meaning that futures trading activity has slowed down significantly, in comparison with spot trading.
By Mayowa Adebajo
Edited by Julia Sakovich
Updated
2 mins read
Glassnode co-founders Yann Allemann and Jan Happel have observed that the ratio of Bitcoin (BTC) futures trading volume to spot trading volume has dropped to its lowest level in 2025. They shared this in a recent post from their X account Negentropic, adding more fuel to the growing concerns about the crypto market’s instability.
Glassnode’s co-founders noted that, at the moment, Bitcoin BTC $84 914 24h volatility: 0.3% Market cap: $1.69 T Vol. 24h: $35.42 B is in a real struggle to regain the crucial $97,200–$98,500 price range. They also mentioned that hitting that range would be very crucial for BTC if it is to stage a real breakout to the highly anticipated $100,000 mark.
In another recent report, Negentropic claimed that the $100,000 target is looking to be within Bitcoin’s reach. However, they submitted that it might not be immediately achievable. According to them, market volatility and liquidations may still persist till after some key events. This means that any moves seen now could be a fakeout and not the real deal.
They say that once the US Federal Open Market Committee (FOMC) speeches, Tuesday’s US Fed Chair Powell’s testimony, and the US CPI reports emerge, then the real market direction will be known.
According to Allemann and Happel, the market has been seeing false breakouts and failed breakdowns over the past few weeks. This has strained the market so much and has also led to increased volatility. Be that as it may, though, the battle for recovery continues.
As earlier noted, the Bitcoin futures-to-spot ratio is currently at yearly lows. This suggests that futures trading activity has slowed down significantly, and can not compare to spot trading at this moment.
Although this appears as a good thing, a sudden increase in futures trading may not be so good. It could potentially lead to a wave of forced liquidations. By this time, expectations are that there will be more selling pressure, which also increases price fluctuations and makes BTC’s path to $100,000 even more uncertain.
For now, it would be advisable for traders to be cautious about their business by paying close attention to BTC price. They should especially monitor how it performs in the range given. Should Bitcoin fail to establish solid support, more liquidations may just continue to take place which would impact the market even further.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
