Whales on Binance may be behind Bitcoin’s jump

Since U.S. markets opened on Friday, bitcoin price has risen by nearly 10%. A popular indicator used by bitcoin traders may explain the increase.
What is obvious is that this buying did not come from U.S. investors. The demand for bitcoin is likely from Chinese or non-U.S. investors.
While Coinbase is more popular among crypto traders in the U.S. and Europe, Binance, which started in China, is known as one of the most popular exchanges among traders in Asia.
It is unclear what has triggered the sudden, huge appetite for bitcoin on Binance. Institutional investors, or bitcoin whales, holding large amounts in bitcoin, have shown a more bullish view on bitcoin, particularly as markets welcome a new quarter on the financial calendar.