Bitcoin rises to nearly $63,000, Coinbase and Bitfinex bulls are absorbing taker selling pressure

Data shows that Bitcoin has risen, approaching $63,000 for a short period of time, almost reversing Tuesday's decline. According to data from data tracking tool The Kingfisher, bullish order flow came from Coinbase and Bitfinex, helping the market absorb "taker selling" from Binance. The cumulative spot volume increment of Coinbase and Bitfinex rose, indicating increased net buying pressure, while Binance's CVD fell, indicating stable selling. CVD measures the net difference between buy and sell volume, highlighting whether buyers or sellers are in the lead. The indicator includes transactions with the US dollar or US dollar equivalent as the quote currency, including fiat currencies and stablecoins pegged to the US dollar. (CoinDesk)