Analyst: Bitcoin is forming a bottom, but spot buyers are still missing
- —Wallets holding 1,000–10,000 BTC swung from selling 62,600 BTC to adding 5,230 BTC over 60 days
- —USDT reserves on Binance rose from about $790 million to $1.76 billion
- —Coinbase Premium sits near -0.14% and net BTC exchange inflows reached 8,428
- —STH-SOPR at 0.9982 means short-term holders are selling at an average loss
Why it matters: Without stronger spot demand and a positive Coinbase Premium, the bottom is unconfirmed and bitcoin remains exposed to further downside.
Source: Bithub