Crypto Markets Slip Into Holiday Quiet: Trading Activity Falls to 2025 Lows

Cryptocurrency markets have entered a pronounced holiday slowdown as 2025 comes to an end, with trading activity dropping to its weakest levels of the year. Bitcoin and leading altcoins are recording their lowest two-week trading volumes since December 2024, reflecting a sharp pullback in market participation.

Weekly trading volumes for major altcoins such as Ethereum (ETH) and Solana (SOL) are now more than 50% lower than during the same holiday period last year. The decline suggests fading short-term interest rather than widespread panic or forced selling.

Year-End Lull Drains Market Liquidity

According to data shared by blockchain analytics firm Santiment on December 30, trading volumes have steadily trended lower throughout the final weeks of 2025. Both Bitcoin and altcoins experienced their quietest two-week stretch of the year, mirroring the slowdown seen during last year’s holiday season.

Santiment attributed the drop to a mix of choppy, directionless price action and year-end distractions, which have pulled traders away from active participation. As a result, liquidity has thinned across both spot and derivatives markets.

Altcoins have been hit particularly hard. Assets including ETH, SOL, Cardano (ADA), and Dogecoin (DOGE) are now trading at less than half of their weekly volumes seen in late 2024, when speculative interest remained relatively strong even during the holidays. This year’s pattern, however, points more toward market fatigue than fear-driven exits.

Discussing the ‘Christmas trap’ in the crypto market as trading activity slows and Bitcoin struggles for direction amid thin year-end volumes.

Social Activity Signals Waning Engagement

Market sentiment indicators tell a similar story. Crypto analyst Oro Crypto, citing Santiment data, highlighted a consistent decline in Bitcoin-related social activity since mid-November. Discussions across major platforms have slowed, engagement with price movements has weakened, and even volatile sessions have failed to spark meaningful attention.

Bitcoin’s social dominance has also slipped into low single-digit levels, indicating a scattered focus across the market rather than concentrated hype around a single asset. According to Oro Crypto, this combination of low engagement and muted reactions suggests exhaustion rather than the type of fear typically seen near market bottoms.

Looking Ahead to 2026

Despite the near-term slowdown, some analysts see reasons for cautious optimism. Comparisons have been drawn to mid-2020, when strong rallies in gold and silver—driven by central bank liquidity—preceded a major rotation into Bitcoin. With gold and silver now trading at record highs again, a similar setup could emerge heading into 2026.

For now, Bitcoin remains range-bound near $88,000, with traders closely watching key technical levels. A sustained break above resistance could revive momentum, while a loss of support may invite deeper consolidation. With volumes thin and sentiment subdued, the current calm may simply be setting the stage for the market’s next decisive move.

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