is that traders from Coinbase have powered the cryptocurrency higher. However, the Nasdaq-listed exchange hasn't been the only source of bullish pressures for the cryptocurrency.
A rising CVD means more buyers are in action, while a negative-sloping line implies there are more sellers.and tweeted by pseudonymous analyst exitpump compares the cumulative volume delta for BTC/BUSD pair listed on Binance with the CVD BTC/USD and BTC/USDT pairs listed on other exchanges and Binance.
"From my observations, it was mostly one entity [from Binance] bidding and absorbing sell pressure and trying to make a breakout market buying and constantly eating the sell walls with no signs of exhaustion, which lead to short squeezes pumping the price,"Meanwhile, other metrics, like the average trade size, suggest an absence of clear leadership and an across-the-board uptick in whale activity.
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