Bitcoin fell by 3% per day

Bitcoin BTC $118,753.65 Bitcoin -2.39% Market capitalization $2.36 trillion VOL. 24 hours $2.3 billion Coinbase-selling-price-plunges-120 000/«>dropped below $ 120,000 after the Coinbase Premium Gap indicator moved sharply into the negative zone. According to CryptoQuant analyst Maartoon, this indicator reflects the difference between the price of BTC on Coinbase (BTC/USD) and Binance (BTC/USDT). A positive value means a higher price on Coinbase, which usually indicates more active purchases by American investors, including institutional ones. A negative value, as it is now, indicates greater selling pressure from US participants compared to global traders.

When bitcoin was rising to $ 122,000, the indicator remained in the positive, indicating support from US investors. But then there was a sharp drop to the downside, after which BTC rolled back to the current $ 119,300. This repeats a trend that has been observed since the beginning of 2024, when the actions of American institutional players often outpace and determine price movements.

Against this background, another positive signal was recorded: the number of new addresses in the Bitcoin network increased to an annual maximum, reaching 364,126 per day, which may indicate an increase in interest and the attraction of new participants.

Currently, BTC is trading at around $ 119,000, showing an increase of about 5% over the past week.