Bitcoin’s drop from $64K comparable to Black Thursday, but Coinbase outflows hint at accumulation

Institutional versus retail sentiment

Glassnode’s Bitcoin transfer volume data, meanwhile, provided two stark investment perspectives between retail and institutions. In its weekly newsletter, the analytics platform broke down its observation based on the inflow/outflow data collected from two of the world’s largest cryptocurrency exchanges: Binance and Coinbase.

Still bullish

In other words, rich investors purchased Bitcoin at local lows as average ones sold them under the influence of Musk.

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