The average buy-sell ratio suggests stronger buying pressure on Kraken and Coinbase, with ratios of 250% and 123%, respectively, compared to near-parity on Bybit and Binance.
These observations imply that Kraken and Coinbase have recently been the preferred venues for accumulation, indicating larger investors are capitalizing on perceived discounts.
This month's average trade size for BTC/USDT spot pairs is $898 on Bybit and $747 on Binance, significantly lower than $2,148 and $1,321 on Kraken and Coinbase.
Kraken and Coinbase tend to attract larger trades, likely from institutional or long-term investors, while Bybit and Binance cater more to smaller, frequent trades.
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