Binance and OKX Spot Net Sales Drive Bitcoin Decline While Coinbase Accumulates

Bitcoin price drop stems from rising net selling on Binance and OKX spot markets. Conversely, Coinbase shows net buying and futures whales accumulate longs during the correction.

Woofun AI notes that the current Bitcoin price decline is primarily driven by net selling activities in the spot markets of Binance and OKX. The scale of these net sales continues to expand, acting as a major source of downward pressure. In contrast, Coinbase's spot market remains in a state of net buying, indicating institutional acquisition at lower prices.

Meanwhile, buying activity in the Bitcoin futures market is accelerating, with large investors continuously building long positions during the correction.