[Bitcoin Rises 30% in August, but Spot Demand Remains at Historic Lows] BlockBeats News, August 31, according to CryptoQuant analyst Darkfost, despite Bitcoin rising 30% in August, aggregated CEX spot trading data shows that Bitcoin spot demand remains at historic lows, similar to levels seen in September 2023. Taking Binance as an example, this CEX still maintains the highest spot trading volume in the industry, but the figure has dropped from $198 billion to $44 billion. However, it is worth noting that this figure is $1.6 billion higher than in July, marking the first signs of stabilization. Darkfost pointed out that if trading volume accompanies price increases, it would be a strong signal indicating the start of a new Bitcoin bull market cycle. [Original Link]