The consensus view is that Q2 was another difficult quarter for crypto trading. Spot trading volumes fell across the industry as investors remained cautious, bitcoin BTC $ 64,014.33 and ether ETH $ 1,875.48 traded lower on average than in the prior quarter and retail participation stayed muted. Crypto markets remained under pressure through most of the second quarter, with bitcoin losing roughly 14% during the period while ether dropped about 25%. While June showed some improvement, most analysts say it wasn't enough to offset weakness in April and May. Trading slowed sharplyBarclays, Benchmark, Clear Street and Compass Point all cut estimates ahead of earnings, citing lower spot trading activity.