Odaily News Since spot ETFs began trading in the United States last Thursday, BTC has been under selling pressure. Data tracked by Kaiko shows that selling pressure is mainly concentrated on Binance, OKX and Upbit. At press time, Bitcoin was trading at $42,700, down 12% from the high of $48,975 hit last Thursday. The price drop appears to be due to traders beginning to take profits from long (buying) positions in anticipation of the ETFs debut. Data tracked by Kaiko shows that Binance’s spot market CVD turned positive last Thursday and has been declining since then, equivalent to a capital outflow of nearly 5,000 BTC. South Korea’s Upbit ranks second in net capital outflows, followed by Itbit and OKX.