[Difference in Cumulative Trading Volume (CVD) Across Four Major CEXs During the Price Crash: US Market Likely the Main Source of Selling Pressure] Odaily Planet Daily reports that David Lawant, Head of Research at Anchorage Digital, posted on X the cumulative trading volume difference (CVD) for Bitcoin spot trading pairs on four exchanges: Binance, Upbit, Coinbase, and OKX. The comparison shows that since November 9th, Coinbase's CVD has been steadily declining with almost no sustained rebound, while the other three CEXs showed less volatility during the same period. This suggests that Coinbase may be a significant source of selling pressure in this round of BTC decline. David Lawant stated, "The main selling pressure in this round of Bitcoin is coming from the United States."