Despite the sell-off in the leading cryptocurrency to $117,000, traders continue to add to positions. The Coinbase premium and a set of other indicators point to this.
The index reflects the price difference for BTC/USD on Coinbase versus Binance. A positive reading signals strong demand from US investors.
The Korean “kimchi premium”, similar in mechanics, also turned positive, indicating elevated demand.
A user going by the handle hansolar highlighted the bid for crypto.
gm same . exact . playbook
Coinbase is buying
Bitfinex is buying
Koreans are buyingAnd again, only you aren’t buying. https://t.co/JEDslGS8gQ pic.twitter.com/dEkE6hJfTG
— hansolar.🕯️ (@hansolar21) August 15, 2025
“Coinbase is buying, Bitfinex is buying, Koreans are buying. And again, only you aren’t buying,” he noted.
Stablecoin flows also point to bullishness. CryptoQuant analyst known as Maartunn drew attention to $3.88 billion in USDC flowing to trading platforms since the recent dip.
😱 USDC Inflows to Exchanges hit $3.88B since the price dip
Investors are treating it as a buy-the-dip opportunity 🐂📈#Crypto #Bitcoin #USDC #BTC pic.twitter.com/bLfjyEP1Pn
— Maartunn (@JA_Maartun) August 14, 2025
Meanwhile, Ethereum reserves on exchanges have fallen to a record low, with about 18.5 million ETH left.
$ETH EXCHANGE RESERVES JUST HIT RECORD LOWS.
Only 18.5M Ethereum left on exchanges.
ETFs are buying. Institutions are stacking.
When scarcity meets demand, price doesn’t go sideways.SUPPLY SQUEEZE INCOMING. pic.twitter.com/HE3pif5GiG
— Merlijn The Trader (@MerlijnTrader) August 15, 2025
“Exchange-traded funds are buying. Institutions are stacking. When scarcity meets demand, the price doesn’t go sideways. A supply squeeze is coming,” noted the user with the nickname Merlijn The Trader.
What next
An analyst using the pseudonym Exitpump called the area around $116,000–$117,000 the nearest support zone for bitcoin. At these levels, the main interest in buying the asset is concentrated in spot and futures order books.
$BTC — Huge demand zone at 116k — 117k levels both on spot and perps orderbooks. pic.twitter.com/QVyxrUn5Oi
— exitpump (@exitpumpBTC) August 15, 2025
Even so, historical seasonality could extend the correction. August has often been a weak month for digital assets. Since 2017, BTC’s average peak decline in this period has been roughly 21.7%.
Although bitcoin has sometimes ended August in the black, the month is typically volatile, affecting investor sentiment.
Analyst Marcus Korvin stressed that bitcoin is holding “firmly above” the 200‑day moving average. However, by his calculations, if the asset breaches the lower bound at $114,000, bears could push prices toward $104,000.
$BTC Holding Strong Above 200 EMA
Price just bounced from our range and is now above the 200-day EMA.
If we see a close below, bears could drag it toward $104K.
For now, bulls are in control but this is the line that decides the next big move. pic.twitter.com/jHjBNrmuMC
— Marcus Corvinus (@CryptoBull009) August 15, 2025
“For now, the situation is with the bulls, but this line will determine the next important step,” he explained.
Earlier, analyst and MN Trading founder Michaël van de Poppe called the $121,000 level key to a resumption of the leading cryptocurrency’s rally.