Bitcoin’s Slide Tied to Spot Selling on Binance and OKX, Analyst Says

BitcoinWorld Bitcoin’s Slide Tied to Spot Selling on Binance and OKX, Analyst Says Bitcoin’s recent price weakness is being driven by sustained spot selling on major exchanges Binance and OKX, according to crypto analyst CW8900.

In a post on X, the analyst noted that net selling pressure has continued to expand on those platforms, while Coinbase has remained in net buying territory.

The divergence highlights differing trader behavior across exchanges, which can offer clues about market sentiment and potential price direction. Spot Selling vs. Futures Buying CW8900’s analysis points to a clear split between spot and futures markets.

While spot trading on Binance and OKX shows persistent selling, the futures market has seen rising buying pressure, particularly from large-scale traders.