Viewpoint: The current selling pressure on Bitcoin mainly comes from Binance, OKX, while Coinbase and the futures market continue to accumulate

Analysts say that the current decline in Bitcoin prices is mainly driven by net selling in the spot markets of Binance and OKX.

The scale of net selling by Binance and OKX continues to expand, becoming an important source of downward pressure in the current market. In contrast, the Coinbase spot market remains in a net buying state, indicating that some institutional funds are still buying on dips.

Meanwhile, buying strength in the Bitcoin futures market is rapidly increasing. Data shows that during the price correction process, some large investors (whales) in the futures market are continuously buying, indicating that some funds are taking the opportunity to establish long positions during the decline.