Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Bitcoin’s Recent Price Rise Could Be Limited by Increased Exchange Sell Orders: Coinbase
ADOPTION NEWS

Bitcoin’s Recent Price Rise Could Be Limited by Increased Exchange Sell Orders: Coinbase

By Crypto FlexsJuly 19, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin’s Recent Price Rise Could Be Limited by Increased Exchange Sell Orders: Coinbase
Share
Facebook Twitter LinkedIn Pinterest Email
Bitcoin Bitcoin

+2.61%
Recently, Coinbase’s market depth has become more imbalanced between bids and asks, with more bids being placed. According to Coinbase analysts David Duong and David Han, this surge in Bitcoin sell orders is particularly concentrated within 5% to 10% of the exchange’s mid-price, limiting further price increases.

“Data suggests there may be some profit-taking at current levels, which could limit price gains as market participants become more willing to sell in line with price gains,” Coinbase analysts wrote in a report Friday.

Bitcoin Selling Pressure Still Existing

Duong and Han pointed to Arkham Intelligence data showing specific factors driving recent Bitcoin selling pressure. “The Mt. Gox redemption remains a source of pressure after distributing around 50,000 bitcoins to the exchange since July 5, leaving a custodian with a balance of 90,300 bitcoins,” they said.

However, they added that digital assets are taking some comfort from the changing political landscape in the US. “This has allowed tokens to keep up with the sharp US dollar devaluation in July, which saw the multilateral DXY index fall more than 2% for the month, and since Bitcoin is often valued in US dollars, it tends to benefit when the US dollar is weak,” they said.

Bitcoin Remains Resilient Despite Stock Market Crash

The largest digital asset by market cap remains resilient despite the plunge in U.S. stock indices, particularly in the tech sector. “Bitcoin remains particularly resilient as Mt. Gox supply continues to slump and stocks continue to slump,” QCP Capital analysts said.

U.S. stocks started lower on Friday, with the Dow Jones Industrial Average down 122 points, or 0.3%, at 40,534 after opening. The Nasdaq Composite also looked set for further declines after its worst two-day session since October, falling 41 points, or 0.2%, to 17,843.

Bitcoin price rose 3%. It has been trading for the last 24 hours and is trading at $65,776 at the time of writing. The pricing page of the block.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Current financial disclosures include:

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025
Add A Comment

Comments are closed.

Recent Posts

BTCC Exchange Partners With NBA All-Star Jaren Jackson Jr. To Inspire Smarter Moves In Sports And Crypto

September 24, 2025

ChainUp Wins Top Crypto Compliance Technology Honor At Thomson Reuters-Presented Awards

September 24, 2025

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025

Nebeus Overfunds Equity Crowdfunding Campaign With €3.6M Raised, Reflecting Growing Demand For Regulated Crypto–Finance Solutions

September 24, 2025

Next Binance Coin (BNB) Price Rally 3 Catalysts that can supply fuel

September 24, 2025

Ether Leeum World Fair Announcement

September 24, 2025

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Navigating Policy & Regulation in Blockchain

September 23, 2025

Flipster Debuts Market’s First USD1 Perps For BTC, ETH, SOL, XRP, And DOGE

September 23, 2025

BYDFi Joins Korea Blockchain Week 2025 (KBW2025): Deepening Web3 Engagement

September 23, 2025

MEXC Brings Immersive Experience With ‘0 Fee Lounge’ To Token2049

September 23, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

BTCC Exchange Partners With NBA All-Star Jaren Jackson Jr. To Inspire Smarter Moves In Sports And Crypto

September 24, 2025

ChainUp Wins Top Crypto Compliance Technology Honor At Thomson Reuters-Presented Awards

September 24, 2025

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025
Most Popular

We are waiting for SEC approval from 72 different ETF applications such as XRP, Solana, and Doge:

April 24, 2025

Understand the BNB Chain’s approach to Maximum Extractable Value (MEV)

October 19, 2024

io.net Appoints Garrison Yang as Chief Strategy and Marketing Officer to Drive DePIN Protocol Growth

March 29, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.