Bitcoin fell back after encountering resistance at 92,000 USDT, with market trading volume at its lowest level since July.

According to a report by 10x Research, the crypto market recorded its lowest trading volume since July last week. Bitcoin encountered resistance again near 92,000 USDT, and despite rising expectations of an interest rate cut, the price failed to break through this key resistance level. The report shows that the total market capitalization of cryptocurrencies is approximately $3.1 trillion, up 4% from the previous week, with a weekly average trading volume of $127 billion, 32% lower than the average. Specifically, Bitcoin's weekly trading volume was $59.9 billion, 31% lower than the average; Ethereum's weekly trading volume was $21.1 billion, 43% lower than the average, and its network fee (0.05 Gwei) was in the 5th percentile, reflecting low on-chain activity.

In derivatives, Bitcoin futures funding rates rose to 4.3%, placing it at the 20th percentile over the past 12 months, while open interest decreased by $1.1 billion to $29.7 billion. Ethereum funding rates rose to 20.4%, placing it at the 83rd percentile, while open interest increased by $900 million to $16.2 billion. Currently, open interest in Bitcoin and Ethereum futures represents 56% and 72% of their market capitalization, respectively.