General market sentiment of US Spot Market and the Futures Market

General-market-sentiment-of-US-Spot-Market-and-the-Futures-Market

Most US institutional investors, market makers, and brokerage firms are using Coinbase. Bitcoin price at Coinbase is lower than other exchanges, which means these US institutional investors are selling now.

Institutional investors are more sensitive to macro conditions, and the recent Bitcoin plunge and sideways movement may be due to those factors. For example, there was a noticeable drop in the Coinbase Premium when the CPI number was released at 9.1%.

Meanwhile, the bullish sentiment is growing amongst futures market investors. Taker Buy Volume is outnumbering Taker Sell Volume, as seen in the Taker Buy/Sell ratio. 

This indicator could be helpful if you're a short-term derivative trader and doing range trading $BTC with tight stop-loss. You can set an alert on the Taker Sell Volume; 150 M(150,000,000 USD)  looks significant threshold in a minute resolution.