Market Dynamics and Trading Volumes
Bitcoin reached a record price of $108,353 in December 2024, while Centralized Exchanges' trading volume peaked at $2.9 trillion, according to The Block's data. This phenomenon highlights a market shift, where despite record prices, trading volumes on major exchanges remain lower than those during the 2021 bull market peak.
Centralized Exchanges (CEX) experienced a notable event in December 2024 when trading volumes peaked at $2.9 trillion. Despite this, the volume fell short compared to the $4.16 trillion seen in April 2021 as global market dynamics evolved. The peak Bitcoin price reached $108,353.
Current data reveals that the total CEX volume, as of October 2025, stands at $2.05 trillion. This showcases reduced comparative engagement despite high Bitcoin prices, hinting at a diversifying market landscape.
Previous analyses indicate the decoupling of price and volume is indicative of market structure shifts. — Arthur Hayes, Co-Founder of BitMEX
Bitcoin's Dominance and Shift to Decentralized Trading
Bitcoin's new all-time high of $108,353 far surpasses its previous cycle peak but has not boosted CEX trading volumes to 2021 levels. This suggests growing influence from decentralized markets in 2025.
Bitcoin's price stands at $109,191.52, with a market cap of $2.18 trillion and a dominance of 59.35%. The trading volume over 24 hours is $72.31 billion, witnessing a decline of 1.39%. Recent monthly price shifts show varied trends.
Increasing reliance on decentralized exchanges and evolving liquidity structures could reshape financial trading models. Historical observations highlight a growing trend toward transparency and efficiency in asset management.