BTC: US Venues Share of Spot Volume
Shown as its 3 Oct – 1 Nov 2026 sample; the latest readings and full history are included with Plus.
Share of BTC spot volume in each period that traded on venues operated in the United States.
Why use it. A rising share has often gone with US-led demand; a falling one with offshore speculation leading the market. How to read it. Read it against its own history; compare with the Coinbase premium for the price side of the same story.
Calculation. 100 x US dollars traded on US venues / US dollars traded on all venues, in each period. US venues here are Coinbase, Kraken, Gemini and Bitstamp, operated in the United States or by a US-regulated group; every other venue we collect counts as offshore. It is our classification of the venues we collect, not a legal statement. Source: our own capture of the public spot trade feeds of Binance, Bybit, OKX, Coinbase, Kraken, Bitstamp, Bitfinex, Gemini, KuCoin, Gate, Bitget, HTX and Crypto.com (taker side as each venue publishes it; Binance from its one-minute candles, which carry taker-buy volume). Trades missed during a reconnect are not estimated. Venues we do not collect are not included, so totals understate the whole market. History starts when our collection began on 14 October 2026; no earlier values are reconstructed.