Rebound in digital assets since the beginning of April has been marked by a significant change of activity in which Asian trading times get market share in Global Bitcoin
Ether and Solana spot trading quantities while the United States steadily losing the ground.
The US trading lesson’s share of spot volume in the three major tokens has fallen below 45% on a 30-day single sliding average basis, which has reached a highlight at a peak of over 55% in early 2025, according to data traced by the institutional crypto-mediation company Falconx. The latest reading is the lowest since Pro-Crypto Donald Trump’s victory in the November presidential election.
Meanwhile, the Asian trade hours are now drawing almost 30% of global activity, with Europe accounting for the rest.
Slower activity in the United States represents a change in Investormix that drives the price action, according to Falconx.
“It may point to increased influence from non-American portfolio flows or suggest that US investors focus more on markets beyond Spot-Krypto,” Falconx’s research manager David Lawant said in a note shared with Coindesk.
Bitcoin, the leading cryptocurrency with market value, has risen 40% to $ 105,000 since he hit low less than $ 75,000 in early April, according to Coindesk data. Ether and Solana have risen 87% and 68% respectively in the same period.
BTC rally with low volume
Although Bitcoin’s award has risen to new heights, Global Spot Trading Activity has not yet recovered to levels seen early this year.
According to Falconx, the daily volume of BTC Spot Markets, which on average over $ 15 billion on the 30-day rolling basis after the November election, has been selling in April and has since held less than $ 10 billion.
A low volume rally is often considered a bear trap. However, this is not necessarily the case this time, as ETFs have recently gained popularity as an investment vehicles.
According to Falconx, the cumulative volume of the 11 US-listed Spot Bitcoin ETFs has increased from approx. 25% of the global spot BTC market volume for a record 45% in less than two months.
The tip of the ETF volume derives mainly from bold directional games rather than non-directional arbitrage bets such as cash and carrying trade involving a long position in ETF and a simultaneous short position in CME BTC futures.
The 11 Spot -Tfs have collected $ 44 billion in net inflow since its inception in January 2024, according to the data source Farside Investors. Blackrocks Ibit, the largest of them all, attracted $ 6.35 billion in May, mostly since January 2025, indicating the growing institutional demand for BTC in the midst of merchant tensions and bond market jitters.
“All of this points to the room for growth and suggests that ETFs will probably remain a great strength behind the demand in this rally,” lawyer said.
