How Binance’s 37% Bitcoin volume share could affect BTC prices

Key Points

1. Binance handled 37.34% of Bitcoin spot trading volume in the first half of 2025, totaling over $3.44 trillion, making it a key player in BTC price movements.

2. On-chain metrics like the NVT Golden Cross, Network Value to Metcalfe Ratio, and Puell Multiple indicate fading momentum, with demand and network growth not keeping pace with price.

3. Miner Netflow Total dropped by 11.55%, suggesting reduced selling pressure from miners, which could support BTC prices if demand resumes.

4. BTC futures market shows steady confidence with a Volume-Weighted Funding Rate of +0.003%, indicating leveraged traders remain active despite slower spot market activity.

5. Binance's dominance in BTC spot trading means its volume trends will likely dictate Bitcoin's next price movement amid conflicting market signals.