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

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 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

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025
Most Popular

Securitize leverages Wormhole to enhance cross-chain tokenization of institutional assets.

September 21, 2024

EU Regulators Expand Banking on Cryptocurrency: A New Era in Supervision?

January 5, 2024

Meta’s cryptocurrency project Libra is a victim of ‘political murder’, co-creator David Marcus has revealed.

December 3, 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.