Analyst: Bitcoin's pullback is highly correlated with Coinbase's sell-off since October 26th

Odaily Planet Daily News: Bitcoin has experienced a major correction, falling 15% from its historical high of $108300. This price drop marks a sharp shift in market sentiment, which has rapidly shifted from extreme bullish to uncertain and cautious. As altcoins suffer heavy losses, the pullback of Bitcoin has raised concerns about the sustainability of its recent gains. Top analyst Maartunn recently emphasized that this adjustment coincides with Coinbase's most severe selling activity since October 26th (when BTC was trading at $66000). The increase in selling pressure clearly indicates that the market has shifted from a bullish market to a market full of fear and hesitation. The combination of reduced purchasing activity and increased selling pressure indicates that the market is striving to maintain its upward momentum. In addition, Bitcoin is currently testing the $92000 mark to seek support. （Bitcoinist）