According to TokenGazer data analysis, as of 17:00 on June 28, the BTC price was $11,497.6, and the market value was 204,486.1M. The 24H BTC transaction volume of the mainstream exchange was about $5,140.8M, down 6.1% from yesterday. In terms of computing power, BTC counts The force is still oscillating at a high level; in terms of the number of active addresses, the number of active addresses of BTCs keeps rising; on June 27, UTC, the price of bitcoin fluctuated and fell, the volume of transactions was large, and the market was divided. The three active exchange orders of the three exchanges exceeded the buy order, and the sellers of the three exchanges were analyzed. Bitstamp liked to sell the big orders, but these big orders did not cause the price to continue to fall; Bitfinex may be the gradual downward movement of the sell orders. Pushing prices down; Coinbase's sell orders are scattered throughout the day. Bitstamp's bitcoin price for Bitfinex has been converted from a positive premium to a negative premium, with a negative premium even exceeding $200. When Bitcoin prices rose in the early days, Bitstamp's bitcoin premium on Bitfinex tends to rise. Therefore, it is possible that people who bought in Bitstamp in the early stage profited from the market, causing the price of BTC to fall. Currently, BTC/USD Coinbase is in a negative premium for BTC/USD Bitfinex, and investors need to be alert to market risks.