BlockBeats message, July 13, according to FalconX’s latest market analysis, the crypto market in Q2 2026 continued the deleveraging trend. The major trading platforms’ spot trading volume fell to $1.6 trillion, down 25% month over month and 42% year over year, reaching the lowest level since Q3 2023; futures trading volume fell to $16k, down 12% month over month and 31% year over year.

The report shows that at the end of Q2, the all-market open interest (OI) in futures fell to $53.2 billion, sharply down from the peak of $122.2 billion in October 2025. The turnover ratio dropped to 1.6 times, reflecting that the market is shifting from high-frequency speculation to longer-term positions.

On capital flows, Bitcoin spot ETFs saw net outflows of $4.9 billion in Q2, and the net outflow over the course of the year widened to $5.4 billion. Meanwhile, total stablecoin supply decreased by $7.4 billion to $313.8 billion, marking the first contraction in several recent quarters.

FalconX believes that the current market deleveraging process has basically been completed; open interest appears to be stabilizing, and there are signs of a rebound in trading volume in June. Looking ahead to Q3, progress on the U.S. “CLARITY Act” legislation and ETF capital flow direction will be key catalytic factors affecting market direction. #PreIPOs第二期OpenAI认购