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Analysis: Current Bitcoin Selling Pressure Mainly from Coinbase, 3169 BTC Transferred In 1 Hour Ago

Summary: According to reports, on-chain data analyst Murphy stated that the current selling pressure in the Bitcoin market mainly comes from Coinbase. Around 10 am this morning, 4950 BTC was transferred to Coinbase, causing BTC to drop to around $115,000; however, 1 hour ago, another 3169 BTC was transferred to Coinbase. Analyst Murphy mentioned that the ...

According to reports, on-chain data analyst Murphy stated that the current selling pressure in the Bitcoin market mainly comes from Coinbase. Around 10 am this morning, 4950 BTC was transferred to Coinbase, causing BTC to drop to around $115,000; however, 1 hour ago, another 3169 BTC was transferred to Coinbase.

Analyst Murphy mentioned that the on-chain data is only updated up to this point. If there are no new large transfers in the future, it is expected to drop to around $115,000; if the on-chain BTC transfers to Coinbase continue, there is still estimated downward potential.

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Link: Analysis: Current Bitcoin Selling Pressure Mainly from Coinbase, 3169 BTC Transferred In 1 Hour Ago [Copy]

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