According to CoinMeta, analyst Darkfost stated on the X platform that despite Bitcoin's increase of over 30% in August, trading volumes across exchanges remained weak, consistent with the trend from July. The trading volumes were at their lowest levels since September 2023, near a level not seen in nearly three years, and there was a clear disparity between price performance and the actual market activity. Comparing these figures with the trading volumes at the peak of the Bitcoin market in October 2025, the difference is significant. Binance still leads in spot trading volume, but it has decreased from $198 billion to $44 billion, which is $1.6 billion higher than in July, indicating initial signs of stabilization. The trading volume for Gate dropped from $53.4 billion to $14 billion, while for Bybit it fell from $41.2 billion to $17.4 billion, representing an average decrease of about 70%. Nevertheless, the trading volumes in August showed a certain degree of stability and were relatively close to the levels of July. If, in the future, as the price of BTC rises, trading volumes also begin to pick up, it could become an important signal for the initiation of a new upward cycle.