Crypto News: Binance Traders Bail on BTC as Coinbase Users HODL at $60K

Key Insights:

• Traders on Coinbase exchange held steadily to their diamond bags as Binance recorded a swarm of exits in the latest crypto news.
• Now the Bitcoin price is hovering near $70,000 again with the rebound still looking fragile.
• On-chain showed short-term holders sending an average of about 8,700 BTC per day to Binance during the most volatile stretch.

Crypto news indicates that as the Bitcoin price slid hard, two exchanges told two very different stories. Coinbase traders largely stayed put, while Binance saw a rush for the exits.

The drop to $60,000 did not just wipe out value in the market or trigger liquidations. It also acted like a real-time stress test, showing how split trader behavior has become depending on where people trade.

On the U.S. side, Coinbase stood out. CEO Brian Armstrong said retail users kept their nerve through the sell-off, choosing to hold rather than panic.

Binance Sees High-Volume Selling as Coinbase Traders Refuse to Flinch in Latest Crypto News

Binance told a different story in the latest crypto news. As the biggest offshore exchange, it saw heavy, fast selling, and on-chain data pointed to traders quickly cutting risk.

That split matters because it changes how to read the market from here. It suggests the next few weeks will depend on where real demand shows up, and where the next wave of selling comes from.

The Bitcoin market felt more like a tug-of-war. One group stayed calm and kept holding, while another rushed to sell. And because they were doing it on different exchanges, the market ended up pulling in two directions at once.

Instead, the real story is about who actually moved the price during the shakeout. It comes down to which group of retail traders showed up, and which exchange they used, at the exact moment leverage started blowing up.

Now that Bitcoin is hovering near $70,000 again in recent crypto news, the rebound still looks fragile. It will only hold if U.S.-linked spot buying picks up quickly enough to absorb the selling hitting offshore venues.

Analysis suggested the mood on Coinbase may not have aligned with the pricing signals at the time.

Coinbase Premium Index

The Coinbase Premium Index, a metric tracked by CryptoQuant, painted a less exciting picture of U.S. spot demand.

Traders watch this index to see how Coinbase pricing compares with offshore exchanges. When Coinbase trades higher, it can signal stronger U.S. buying. When it trades lower, it can point to weaker demand.

In his recent crypto news remarks, Armstrong may be right that Coinbase retail users kept buying. Still, the negative premium hinted they were not the ones moving the market.

That is where the idea of the marginal price-setter comes in. Prices do not follow the average trader. They follow the trader whose orders ‘tip the balance’ at that moment.

Retail can keep buying on Coinbase and still not move the price much. That happens when the biggest orders in the market come from elsewhere, or when other flows simply drown out what small buyers are doing.

In recent crypto news, CryptoQuant said the index jumped higher. It is still below the middle line, but the bounce suggests U.S. selling may be starting to cool off.

The key is whether the move sticks.

A quick pop means very little on its own. However, if the premium flips positive and stays there, it would signal that Coinbase-linked buying has regained control of the market’s direction.

Crypto News: On-Chain Flows Suggest Binance Became the Main Exit Route

While Coinbase traders mostly stayed steady, Binance looked like a different market in the latest crypto news.

On-chain data showed a sharp wave of selling on Binance, with recent buyers driving most of it. Long-term holders did not seem to be the main ones rushing out.

CryptoQuant’s exchange flow data backed that up. It showed short-term holders sending an average of about 8,700 BTC per day to Binance during the most volatile stretch.

On exchanges, big inflows usually send a clear message. People move coins from storage to a trading platform when they plan to sell.

What stood out here is who sent the most. CryptoQuant’s labels showed the biggest transfers came from mid-sized holders, the so-called fish and sharks, while whale inflows stayed relatively light.