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As the end of 2025 approaches, the digital currency market is experiencing a clear seasonal decline, with trading volumes falling to their lowest levels for the year.
According to data reported by “Santiment” on December 30, trading volume in Bitcoin and most major currencies hit the lowest level in two weeks since December 2024, while weekly activity in currencies such as Ethereum (ETH) and Solana (SOL) fell by more than 50% from last year’s holiday period.
“Santiment” explained that in addition to the year-end holidays, occasional and irregular price fluctuations have also reduced the presence of traders and reduced liquidity in the spot and derivatives trading markets.
The losses in other currencies appeared to be more severe. Weekly trading volumes for Ethereum, Solana, Cardano, and Dogecoin are less than half what they were at the end of 2024, suggesting a decline in short-term speculative interest rather than panic selling.
Social interaction metrics confirm the same.
Oro Crypto calculations based on the Santiment indicator show that social momentum around Bitcoin has continued to decline since mid-November, with discussion of Bitcoin on major platforms declining and reaction to price changes declining, even during highly volatile trading sessions.
Bitcoin’s social dominance has also dropped to low single-digit levels, reflecting a fragmentation of attention rather than a focus on a single asset.
Oro Crypto believes that this state is closer to exhaustion than fear.
Historically, peaks in market cycles have been associated with increased media coverage and increased personal involvement, but these indicators appear to be absent now despite price swings in a wide range.
On the other hand, mixed signals are emerging as the new year approaches.
Some analysts link this scenario to what happened in mid-2020, when bank liquidity began to push gold and silver higher, before flows and liquidity subsequently moved to Bitcoin and triggered a historic rally.
Now, with gold hitting all-time highs above $4,500 and silver reaching new highs, proponents of this scenario believe that 2026 could bring a positive continuation for Bitcoin, driven by the possibility of rate cuts and clearer regulatory developments.
But technically, the short-term path remains controversial.
Bitcoin is currently trading in a tight range around $88,000, with some traders saying a break above the $90,600 level is necessary to open the way to $107,000.
If support is broken, Bitcoin could test the $70,000 to $65,000 range.
Between declining trading volume, lack of social interaction, and technical sensitivity, the current state of silence appears to be temporary, and early 2026 is likely to be the decisive point in whether the market heads for a new upward wave or a deeper pullback.
Also read:
Is Bitcoin price in danger? A break above the 100-week moving average could start a new bearish wave
