According to BlockBeats, on July 25th, on chain data analyst Murphy stated that the current selling pressure in the Bitcoin market mainly comes from Coinbase. Around 10am this morning, 4950 BTC were transferred to Coinbase, and after this transfer, BTC fell to around $115000; However, one hour ago, 3169 BTC were transferred to Coinbase again.
Analyst Murphy stated that currently, on chain data is only updated up to this point, and if there are no new large transfers in the future, it is expected to drop to around $115000; If the transfer of BTC to Coinbase on the chain continues, it is estimated that there is still room for decline.
