caueconomy
Bitcoin reserves on exchanges continue to increase, except on Coinbase.
Institutional activity on Coinbase was one of the main catalysts for the $25k breakout. One of the signs of this buying activity can be seen through the Coinbase Premium Index, an indicator that signals the difference in price from the coinbase platform to Binance. During the 11th and 12th, large institutions showed a buyer pattern, probably large players in the United States. Right now, part of that absorbed BTC is being withdrawn from Coinbase, while all other exchanges are signaling an increase in their reserves. It is possible that this BTC entry movement is selling, due to the macro scenario of risk aversion and a drop in market liquidity as a whole.