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CoinGape

Old Bitcoin Whales and OTC Traders Fueling BTC Drawdown: CryptoQuant CEO

CoinGape
Summary
Nutrition label

63% Informative

Bitcoin (BTC) is up by 2.95% in the past 24 hours to $ 96,783.31 , paring off the drawdown of the past week .

Despite this resilience, there are still visible selloffs in the Bitcoin ecosystem.

Daily premium on Coinbase Exchange is at a 2-year low, impacting market sentiment.

Buying pressure is mainly from U.S. institutions on the exchange, but this needs recovery for next leg up.