Viewpoint: The current selling pressure on Bitcoin mainly stems from Binance and OKX, while Coinbase and the futures market continue to accumulate Bitcoin.
2026.08.11 00:22:47
Analysts attribute the recent drop in Bitcoin’s price primarily to net selling activity on Binance and OKX’s spot markets. The net selling volume on both exchanges continues to swell, representing a major source of downward pressure for the current market. By comparison, Coinbase’s spot market has remained in net buying territory, suggesting that some institutional capital is still accumulating Bitcoin on dips. At the same time, buying momentum in Bitcoin’s futures market is strengthening rapidly. Data indicates that amid the price correction, large investors (whales) in the futures space are consistently purchasing Bitcoin, signaling that some funds are leveraging the downturn to open long positions.
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