Bitcoin has maintained higher highs and higher lows since its lowest point at $65,000, but trading volume has not followed the price recovery.

Bitcoin dominates 25% of the total trading volume—nearly double its data on the most important market indicator.
The continued decline in spot trading volumes since February raises concerns that the current rally may lack the strength needed to deliver a true breakout.
Achieving a real breakout above $80,000 requires a significant rebound in spot buying demand; otherwise, a sharp reversal remains a real risk.
Bitcoin is currently facing strong resistance at the $80,000 level. Despite the price rising steadily, trading volumes in spot markets remain unusually low.

This mismatch between price and volume has raised questions about the legitimacy of the price increase. Market observers are now wondering whether this rally is sustainable.

This situation calls for close attention to on-chain data and exchange activity before drawing any definitive conclusions.