The crypto market is showing clear signs of slowdown, with CoinGecko describing current conditions as a “sustained crypto winter”.
In the first quarter of 2026, spot trading volumes on centralised exchanges fell sharply by 39%, dropping from $4.5 trillion to $2.7 trillion. March was particularly weak, recording the lowest monthly activity since late 2023.
This decline comes after Bitcoin’s massive rally to over $126,000 lost steam. Market sentiment has since been weighed down by global uncertainty, including geopolitical tensions and concerns about economic slowdowns.
Even daily trading activity has taken a hit, falling significantly compared to the previous quarter. All major exchanges saw declines, with some experiencing drops of over 50%.
Bitcoin itself has struggled, falling more than 20% during the quarter. However, recent price movements suggest a possible short-term recovery.
The broader picture remains uncertain. While institutional demand continues to provide some support, the market is clearly navigating a more cautious phase.
Source: X.com
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