Edris
US institutions selling Bitcoin?
Coinbase is the only publicly traded Crypto exchange in the world, making it the most legally transparent exchange among all, a significant characteristic which would attract the American institutions and wealthy families who are looking to invest millions of dollars in Bitcoin and Crypto. This chart, demonstrates the Coinbase Premium Gap which is the Bitcoin price gap between Coinbase Pro and Binance. It is evident that this metric has rapidly dropped into the negative territory in recent weeks, pointing to massive selling pressure by the US investors and institutions, after almost 2 years of constant accumulation. It seems like the growing inflation in the United States is taking its toll on the American people and businesses, and many of them are reaching their risk threshold and getting out of the Bitcoin market. A continuation of this pattern could lead to even lower prices as the market lacks sufficient demand at the moment, and would be overwhelmed by this large supply.