CryptoQuant analyst says Bitcoin's plunge in selling pressure stems from US whale addresses

CryptoQuant analyst Mignolet stated that there has been a strong sell-off of Coinbase Premium Gap (CPG) premiums in the market recently. Due to the fact that the Bitcoin ETF market was not open during the relevant period, this selling pressure did not come from ETFs, but from US whale addresses operating outside the ETF system. Mignolet pointed out that the CPG selling premium dominated by American whales is one of the traditional selling models.