Bitcoin buy the dips buyers were particularly active on Kraken and Coinbase this month

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On September 12, according to CCData, Bitcoin buy the dips users were very active on Kraken and Coinbase, buying Bitcoin at a discount when selling pressure from other trading platforms weighed on prices.

The bid-ask ratio (comparing buy and sell volume) on Kraken and Coinbase averaged 250% and 123% respectively this month. A bid-ask ratio over 100% means there are more buy orders than sell orders, indicating net buying bullish pressure.

“The average buy-sell ratio shows stronger buying pressure on Kraken and Coinbase, while Bybit and Binance are close to even at 99% and 97% respectively,” CCData research analyst Hosam Mahmoud said in an interview. “While these observations do not lead to definitive conclusions, they suggest that Kraken and Coinbase have recently become the preferred Bitcoin accumulation platforms,” Mahmoud added.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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