Bitcoin Buy-Sell Ratio Soars on Kraken and Coinbase: Bullish Signal?

• Kraken and Coinbase lead Bitcoin accumulation, with buy-sell ratios of 250% and 123%, respectively.
• Larger Bitcoin trades on Kraken and Coinbase suggest strong activity by institutional buyers.
• Binance and Bybit see smaller trades, indicating more retail investor activity than large trades.

Savvy Bitcoin investors are capitalizing on recent market dips, snapping up coins at perceived discounts on platforms like Kraken and Coinbase. Data from CCData reveals a surge in buying pressure on these exchanges compared to others like Binance and Bybit, indicating a strategic move by traders to accumulate Bitcoin while its price is under pressure.

Kraken and Coinbase Dominate Buy-Sell Ratios

CCData’s analysis shows a clear preference for Kraken and Coinbase among Bitcoin buyers. Kraken boasts an average buy-sell ratio of 250% this month, signifying significantly more buying activity than selling. Coinbase also demonstrates a strong buy-sell ratio of 123%. These figures, well above 100%, indicate net bullish pressure and heightened demand for Bitcoin on these platforms.

In contrast, exchanges like Bybit and Binance exhibit near-parity in buying and selling activity, with buy-sell ratios of 99% and 97%, respectively. This suggests that Kraken and Coinbase are currently the preferred destinations for Bitcoin accumulation.

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Larger Trade Sizes Signal Institutional Interest

The average trade size on Kraken and Coinbase further hints at the presence of larger traders, potentially including institutional investors. CCData reports average trade sizes of $2,148 on Kraken and $1,321 on Coinbase, considerably higher than the $898 and $747 seen on Bybit and Binance, respectively.

This disparity in trade sizes underscores the differing investor profiles on these platforms. While Bybit and Binance cater more towards smaller, frequent trades typical of retail investors, Kraken and Coinbase seem to attract larger, strategic trades indicative of institutional participation.

Read also: Coinbase Wins Partial Victory in SEC Case, Gains Access to Key Documents

Despite Bitcoin’s recent price decline from $60,000 to $52,500, followed by a partial recovery to $58,000, buying pressure on Kraken and Coinbase remains robust. This suggests that bargain hunters are actively accumulating Bitcoin, viewing these dips as prime opportunities to buy at a discount.

CCData’s research analyst, Hosam Mahmoud, highlights that the difference in trade sizes between Kraken, Coinbase, Bybit, and Binance reflects distinct investor behaviors. While Bybit and Binance traders lean towards short-term, speculative trading, Kraken and Coinbase attract long-term investors seeking to build larger positions.