

Bitcoin spot ETF suffered major decline after approval! Kaiko: Binance, OKX, Upbit face selling pressure
Bitcoin spot ETF plunged after approval
Bitcoin ushered in the first listing of the spot ETF on January 11. Bitcoin soared to $48,988 after the U.S. stock market opened that day, but finally closed at $45,569. On the following 12th, the price of Bitcoin fell further to $41,360.
Binance, OKX, Upbit welcome selling pressure
According to Kaiko’s report, after the ETF started trading, the cumulative trading volume difference (CVD) of all major exchanges showed significant changes. The CVD of Binance and OKX quickly dropped to negative values.
Upbit, despite lower trading volume, also showed sustained selling with little retracement.
However, the CVDs of Coinbase and Bitstamp remain positive.
CVD tracks the net difference in buying and selling volume over time, reflecting overall bullish/bearish pressure in the market. Positive values indicate greater buying pressure, and negative values indicate greater selling pressure.
Exchange CVD changes
Judging from the performance of the Bitcoin spot ETF in the past week since its launch, this seems to be closer to a "sell the news" event.
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Top 10 free-to-view market software websites are recommended: 1. Binance, 2. OkX, 3. Sesame Open Door (KuCoin), 4. CoinMarketCap, 5. CoinGecko, 6. TradingView, 7. Investing.com, 8. Yahoo Finance, 9. Glassnode Studio, 10. LunarCrush, these websites provide real-time data, technical analysis tools and market information to help you make informed investment decisions.

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The steps to register a Binance account include: 1. Prepare a valid email or mobile phone number and a stable network; 2. Visit Binance official website; 3. Enter the registration page; 4. Select the registration method; 5. Fill in the registration information; 6. Agree to the user agreement; 7. Complete verification; 8. Obtain and fill in the verification code; 9. Complete registration.

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