Bitcoin futures volume falls 20% in June, hinting at possible crypto summer slump

Early signs of summer seasonality appear to have returned to the crypto markets, as total Bitcoin futures volume for the month of June recorded a ~20% month-over-month decline. Centralized exchanges saw just ~$1.55 trillion in total Bitcoin futures volume this month.

For context, over the first five months of 2025, Bitcoin futures volume averaged $1.93 trillion per month. This puts June’s figure roughly 20% below the year-to-date monthly average.

A similar pattern played out last year, when June 2024’s total Bitcoin futures volume dropped 15.7% month over month. Although volumes rebounded in the following month, Bitcoin futures still averaged a lower $1.53 trillion monthly from June through September 2024.

For context, the average from January to May 2024 was $1.71 trillion per month. The June-September 2024 window thus saw a 10% lower average monthly volume compared to the first five months of that year.

Another example of this seasonal trend occurred in 2023, though it started slightly later in July. The first six months of 2023 saw an average monthly volume of $1.03 trillion for Bitcoin futures, while July 2023 came in sharply lower at just $717 billion. July 2023 also saw a ~30% month-over-month decline in total Bitcoin futures volume, which marked the start of a three-month downturn in volume, as it declined a further 2.4% in August, followed by a more severe 21.5% drop in September.

While it’s still too early to say with certainty, if this month’s data is any indication, we could be on track for another muted summer stretch ahead.

This is an excerpt from  The Block's Data Insights newsletter . Dig into the numbers making up the industry's most thought-provoking trends.