Analyzing the Coinbase Flow Pulse indicator, an analyst has explained why Bitcoin (BTC)'s bullish trend continues despite the recent price drop. This index, which shows the flow of Bitcoin from other exchanges to Coinbase, has been on an upward trend since the beginning of 2023. The 30-day moving average of this index is still above the 90-day average, which indicates the continuation of the bull market. Also, the Coinbase Premium Gap indicator also shows signs of increased purchases by Coinbase users

The steady rise in Coinbase Flow Pulse suggests strong institutional interest in Bitcoin, supporting its bullish trend despite recent price dips. This could be a key factor in maintaining long-term confidence in the market.