Woofun AI data shows that the 7-day moving average for cryptocurrency spot trading volume has fallen to approximately $21.4 billion. This figure represents an 80% decrease from the $104.3 billion peak recorded in October 2025. Trading activity surged during the latter half of 2025 before entering a steady decline, reaching levels close to a one-year low by July 2026. Analysts identify the primary market risk as a lack of clear directional momentum, noting that participant indifference and wait-and-see sentiment pose significant challenges to the current cycle.