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sustains its upward trajectory on September 14, 2023, driven by significant purchases primarily from Asia and America.
- Spot purchases prominently facilitated through platforms like OKX and Coinbase.
- Further ascent anticipated with anticipated participation from Binance Spot in the market.
Bitcoin is exhibiting a promising trend, boosted by heavy purchases from Asian and American markets. As the trend continues, with projections and statistics indicating a sustained growth, investors and market watchers keep a close eye on Binance Spot’s potential market entry, which could further fuel this uptrend.
Spot Purchases Dominated by OKX and Coinbase
According to the data provided by Coin Metrics, a significant portion of Bitcoin spot purchases is primarily facilitated through platforms such as OKX and Coinbase. These platforms have been at the forefront, recording figures of -722.3M and -348M respectively. Following closely are Bitfinex (-377M), Huobi (-34M), and Binance Spot (-3.14B), showcasing the concentrated channels for Bitcoin spot purchases. Additionally, the involvement of Asia and America in spot purchases is clearly dominating, reflecting a bullish trend in the Bitcoin market.
Anticipation Builds for Binance Spot’s Market Entry
With the ongoing uptrend in the Bitcoin market, eyes are on Binance Spot for potential participation. The current dynamics show a significant concentration of purchases in platforms like OKX and Coinbase, finding their counterpart in the derivative markets through platforms like Binance and Bybit. For stronger surges, the involvement of Binance Spot is considered necessary, adding a new layer of anticipation and potential momentum to the ongoing upward trajectory.
Green Trends Continue in CVD+ Values
On the other hand, the CVD+ values remain green, holding a valuation of -118k, indicating a continual positive trend in the market. This green trend in the CVD+ values signals a potentially sustainable upward trend, fostering optimism among investors and market analysts alike.
Whales Reducing their Sell Positions
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An analysis of OKX Whale vs Retail Delta reveals a rise in the score to +4.873, indicating a potential bullish trend with whales reducing their sell positions. Furthermore, for the first time in a long time, Binance whales have elevated to -4.190 against small investors, showcasing a positive market sentiment and a potential for further upward momentum.
In conclusion, Bitcoin continues to exhibit a strong growth trend, primarily driven by purchases originating from the Asian and American markets. Platforms like OKX and Coinbase are leading in facilitating spot purchases, with a notable anticipation building around Binance Spot’s market entry for fostering stronger upward surges. Additionally, the green trends in the CVD+ values and the reduction in the sell positions by the whales hint at a favorable market outlook.
Furthermore, as Bitcoin maintains its upward trajectory, the necessary involvement of Binance Spot and the continuation of sell position reductions by the whales are essential for sustaining this growth. As of September 14, 2023, Bitcoin is priced at 26,669 dollars, marking a promising progression from its previous day’s closing at 25,695 dollars, with a peak reaching up to 26,850 dollars during the day. The trading volume stands at a robust 12.9 billion dollars, with a circulating supply of 19 million units, indicating a strong market presence and potential for further growth.