Bitcoin Dips as November Trading Volume Falls to Lows, CEX/DEX Volumes Decline and US Bitcoin Spot ETF Posts Largest Monthly Outflow

In November, global crypto trading activity cooled, according to The Block via COINOTAG News. Total CEX volume slipped to $1.59 trillion, marking a 26.7% monthly decline and the weakest print since June.

Binance maintained its top position but recorded a substantial drop in exchange volumes, from $810.44 billion in October to $599.34 billion in November, highlighting softer appetite among traders.

Decentralized exchanges also experienced demand softness, with DEX trading volume dipping to $397.78 billion for the month, signaling tighter liquidity across venues.

Bitcoin price momentum weakened over the month, sliding from roughly $110,000 to around $86,500. Concurrently, the spot BTC ETF posted net outflows of about $3.48 billion—the largest monthly exit since February.