SELL PRESSURE IN SPOT MARKET & LTH SPENDING BEHAVIOUR 

SELL-PRESSURE-IN-SPOT-MARKET-LTH-SPENDING-BEHAVIOUR

Looking at the inflows to Coinbase in a block resolution is an insightful method to monitor the large entities' ( mostly institutional players in North America) selling pressure. As a typical threshold here, the 1800 BTC/BLOCK has been highlighted by 🔴 dash-line. After hitting sub-$28K levels across the market, we can see a higher frequency of the inflows bigger than 1800 BTC/BLOCK; specially every time market cross over $30K.
Alongside the relatively higher selling pressure in Coinbase Spot Market, the LTH-SOPR also is indicating the fact that every time price is breaking above the $30K (May 13th & 18th), as are moving their coins (possibly for selling).