[Analyst: Bitcoin Spot Trading Volume in August Nearly Halved Compared to January, Market Enters 'HODL Mode'] BlockBeats News, September 15, CryptoQuant analyst Axel Adler Jr stated in an article that in January 2025, Bitcoin spot trading volume reached $636 billion, but by August, it had nearly halved to $322 billion. The activity on centralized exchanges (CEX) is declining, and the market has clearly entered 'HODL mode'.