Bitcoin analyst Willy Woo said selling from U.S. investors picked up after the CLARITY Act failed to clear a procedural vote in the Senate, pointing to exchange cumulative volume delta data as evidence. According to Woo, Coinbase’s CVD accelerated lower to about negative 6,659 BTC, while Binance’s CVD recovered from its lows to around negative 5,841 BTC. He said that pattern suggests offshore markets, which he described as more dominant, were still absorbing supply.
At the same time, Bitcoin pulled back from a high of $80,560 and briefly fell to $74,968. Woo also cited CVD readings from other venues, with Bybit at roughly negative 582 BTC, OKX at negative 1,135 BTC, and Bitstamp at negative 764 BTC. He characterized the divergence between Coinbase and Binance flows as bullish.
Bitcoin analyst Willy Woo said in a post on X that U.S. investors sold after the CLARITY Act failed in a procedural Senate vote, citing cumulative volume delta, or CVD, across major exchanges.
Woo wrote that Coinbase’s CVD accelerated lower to about -6,659 BTC, a sign of selling from U.S. investors. Binance’s CVD, by contrast, recovered from its lows to around -5,841 BTC.
He said the more dominant offshore market was still absorbing supply and described the divergence as bullish.
Over the same period, Bitcoin fell from a high of $80,560 and at one point dropped to $74,968. CVD on Bybit, OKX and Bitstamp stood at about -582 BTC, -1,135 BTC and -764 BTC, respectively.
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