Recent insights from CryptoQuant reveal a concerning trend among major cryptocurrency exchanges, as they grapple with diminished buying power. According to the results published in the material, this situation underscores the ongoing challenges within the market, particularly as Bitcoin stabilizes around the $90,000 mark.
Positive Buying Power Ratios Among Top Exchanges
According to the data, only three out of the top ten exchanges—OKX, Kraken, and Upbit—reported positive buying power ratios for December. In stark contrast, the remaining seven exchanges faced negative ratios, with Bitget suffering the most significant decline, recording a ratio of just 12,083. This disparity suggests a prevailing selling pressure, as many traders are opting to reduce their positions rather than increase them.
Broader Implications for the Cryptocurrency Market
The broader implications of this trend point to regional capital splits that are impacting the overall buying power in the cryptocurrency market. As professionals navigate these challenges, the market's dynamics continue to shift, raising questions about future trends and investor sentiment in the crypto space.
As the cryptocurrency market faces increased selling pressure, Bittensor's TAO token has recently experienced a notable decline. For more details on this downturn, you can read the full article here.
