According to @glassnode, off-chain metrics show improving sentiment, with spot CVD up 94% toward neutral, perpetual futures CVD up 88%, and crypto ETF net outflows narrowing 55% to -$312 million; @glassnode also reports that spot trading volume fell 22% week over week, signaling broad participation has not yet returned. This divergence between stabilizing derivatives and ETF flows versus weak spot liquidity was highlighted by @glassnode as key for traders to monitor.

According to Crypto Rover, spot trading volume for altcoins is experiencing a significant increase. This surge in trading activity is a critical indicator for traders, often suggesting growing investor interest and accumulation, which could precede a broader market rally or increased price volatility in the altcoin sector. Traders may view this as a bullish signal to watch for potential entry points.

According to Sumit Gupta (CoinDCX) on Twitter, CoinDCX's monthly spot trading volume in 2025 has remained relatively steady, despite ongoing market volatility and global macroeconomic conditions. However, trading activity has declined compared to the highs observed in December 2024. This trend signals a stabilization in active trading but reflects reduced speculative momentum, potentially impacting short-term liquidity and price discovery in major cryptocurrencies. Source: Sumit Gupta Twitter, May 7, 2025.