[Wall Street Liquidity Radar] Coinbase OTC trading volume surges 50% in one day... Institutional demand reignites amid slowing US buying.

Tracking the Bitcoin supply and demand flow in the US market and monitoring changes in investment sentiment. In particular, by analyzing key indicators such as inflow and outflow status of Coinbase, a major exchange used by US institutional investors, premium index, and OTC trading volume, we can analyze the market participants' psychology and supply and demand environment. This can be used as a reference to gauge the short-term market trend and overall investment temperature. [Editor's Note] According to Cryptoquant data, the exchange Bitcoin netflow on July 29, 2025 (UTC) was -175.75 BTC, significantly reducing the net outflow compared to the previous day (28th) of -10,986.94 BTC. This indicates a transition back to net outflow for two consecutive days after recording +420.52 BTC net inflow on the 27th, suggesting that short-term selling pressure has decreased while holding sentiment is maintained. On the 25th and 26th, net outflows of -43,284.14 BTC and -133.40 BTC were recorded, continuing the overall outflow trend. This trend suggests that holding sentiment of moving assets to external wallets is predominant rather than short-term selling, and the stabilization trend centered on long-term holders continues. The Coinbase premium recorded 0.0070% as of July 28th, significantly dropping from 0.0418% the previous day (27th). This indicator represents the price difference between the US-based exchange Coinbase and the global exchange Binance, and a positive value is interpreted as a signal of relatively strong buying sentiment in the US. It has been declining since its peak on the 18th (0.0833%). While it slightly recovered to 0.0418% on the 26th, the buying intensity noticeably weakened on this day. According to Coinigy, Coinbase Prime's Bitcoin trading volume was approximately 7,648.66 BTC as of July 28th. This is a significantly increased figure compared to the previous day's (27th) 4,999.42 BTC. The 24-hour trading volume in dollars is also confirmed at around $560.56 million, detecting a trend of expanding institutional demand. The trading volume increasing by over 50% in a day at Coinbase Prime, the main channel for institutional trading, is interpreted as a recovery of short-term buying sentiment. Particularly, with BTC trading volume exceeding 7,000 transactions, it suggests that market participants are again actively building positions. If this trend continues, it is also noteworthy that it could lead to price appreciation momentum.