Analysts: Institutional Investors May Be Selling Bitcoin

IconCryptoNewsTerminal Staff19 Aug, 2024

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Analysts: Institutional Investors May Be Selling Bitcoin

On-chain data analytics provider Lookonchain has recently analyzed the estimated address of Binance's custody platform Ceffu. According to the analysis, Ceffu has deposited a total of 3568 BTC ($211 million) into Binance since the 31st of last month. Ceffu provides custody and liquidity solutions to institutions, indicating that these institutions may be responsible for the recent BTC sales. This development suggests a potential shift in market sentiment among institutional investors and could have implications for the price of Bitcoin in the future.