Multiple flow and pricing signals point to steady accumulation through the pullback.
Coinbase premium and bitcoin rate. Source: CryptoQuant
Coinbase premium turns positive
The Coinbase premium—tracking the price gap between BTC/USD on Coinbase and Binance—flipped positive, a sign of strong U.S. spot demand. A similar move showed up in South Korea: the “kimchi premium” also rose above zero, signaling heightened local appetite.
"Kimchi Award" Source: TradingView .
“Coinbase is buying, Bitfinex is buying, Koreans are buying. And once again, it’s only you who aren’t,” trader hansolar quipped.
gm same . exact . playbook
— hansolar.🕯️ (@hansolar21) August 15, 2025
Coinbase is buying
Bitfinex is buying
Koreans are buying
And again, only you aren't buying. https://t.co/JEDslGS8gQ pic.twitter.com/dEkE6hJfTG
Stablecoin flows back risk-on
CryptoQuant analyst Maartunn flagged a fresh $3.88 billion in USDC flowing onto exchanges since the latest dip—dry powder typically associated with near-term buying.
😱 USDC Inflows to Exchanges hit $3.88B since the price dip
— Maartunn (@JA_Maartun) August 14, 2025
Investors are treating it as a buy-the-dip opportunity 🐂📈#Crypto #Bitcoin #USDC #BTC pic.twitter.com/bLfjyEP1Pn
At the same time, Ethereum balances on centralized exchanges fell to a record low, now around 18.5 million ETH. With ETFs and treasuries continuing to accumulate, supply on trading venues keeps thinning.
$ETH EXCHANGE RESERVES JUST HIT RECORD LOWS.
— Merlijn The Trader (@MerlijnTrader) August 15, 2025
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
“ETFs are buying. Institutions are accumulating. When scarcity meets demand, price doesn’t move sideways. A supply shock is coming,” noted Merlijn The Trader.
What’s next for BTC
Trader Exitpump highlights $116,000–$117,000 as the nearest buy zone on spot and futures order books—where interest to scoop up the dip is most concentrated.
$BTC - Huge demand zone at 116k - 117k levels both on spot and perps orderbooks. pic.twitter.com/QVyxrUn5Oi
— exitpump (@exitpumpBTC) August 15, 2025
Seasonality could still weigh. Historically, August has been a soft month for crypto: since 2017, Bitcoin’s average peak drawdown in August is about 21.7%. Even in years when August closes green, volatility tends to spike and sentiment chops.
Analyst Markus Korvin points out BTC remains comfortably above the 200-day moving average—a key trend barometer. By his math, a decisive break below $114,000 would open risk toward $104,000:
$BTC Holding Strong Above 200 EMA
— Marcus Corvinus (@CryptoBull009) August 15, 2025
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
“Bulls have the ball, but that line will decide the next meaningful move.”
As a reminder, MN Trading founder Michaël van de Poppe pegs $121,000 as the trigger to restart the uptrend. Until that reclaim, traders are watching how price behaves around $117K support and whether seasonality keeps a lid on momentum.
Let us recall that analyst and founder of MN Trading Michael van de Poppe called the level of $121,000 key for the resumption of growth of the first cryptocurrency