[Opinion: This Morning's Bitcoin Plunge Selling Pressure Came from U.S. Non-ETF Whales] BlockBeats News, January 19, CryptoQuant analyst Mignolet, using the CPG (Coinbase Premium Gap) chart, indicated that the current market is experiencing the strongest selling premium in recent times. Since the U.S. ETF market had not yet opened during Bitcoin's plunge this morning, the selling pressure came from U.S. whales (large investors) operating outside of ETFs. Note: CPG measures the price gap of Bitcoin between Coinbase (USD pair) and Binance (USDT pair). A positive value indicates strong U.S. buying activity, while a negative value reflects selling pressure from U.S. investors.