Bitcoin Surpasses $100,000 As Institutionals Run The Show: CryptoQuant

Bitcoin Surpasses $100,000 As Institutionals Run The Show: CryptoQuant
фото показано с : bitcoinist.com

2024-12-6 11:30

Data from CryptoQuant has revealed how institutional investors have been the drivers behind the latest Bitcoin surge above $100,000.

Bitcoin Coinbase Premium Index Has Been Positive Recently

In a new post on X, the on-chain analytics firm CryptoQuant has discussed the latest trend in the Bitcoin Coinbase Premium Index. The “Coinbase Premium Index” refers to a metric that keeps track of the percentage difference between the BTC price listed on Coinbase (USD pair) and that on Binance (USDT pair).

The indicator tells us about how the buying or selling behaviors differ between the user bases of these cryptocurrency exchange giants. Coinbase’s main traffic comprises US-based investors, especially large institutional entities, while Binance hosts users worldwide.

When the Coinbase Premium Index has a positive value, the asset trades at a higher rate on Coinbase than on Binance. Such a trend implies that American whales have been applying a greater buying or lower selling pressure than the global investors.

On the other hand, the negative indicator suggests that Binance users may be buying more than Coinbase users as BTC is going for a higher price there.

Now, here is the chart shared by the analytics firm that shows the trend in the Bitcoin Coinbase Premium Index over the past year:

As displayed in the above graph, the Bitcoin Coinbase Premium Index registered a sharp surge into the positive territory at the start of November and has since maintained inside this territory, save for a brief dip.

This trend naturally means that the buying pressure on Coinbase has consistently been higher than that on Binance. The asset’s price enjoyed a sharp rally during this period, so it would also appear that this accumulation from US-based investors has fueled the surge.

The chart shows that this pattern has also been witnessed on multiple instances throughout the past year, with positive spikes in the Coinbase Premium Index generally being bullish for Bitcoin.

The latest rally to the new all-time high (ATH) above $104,000 has also come as the indicator has registered another sharp green spike. Thus, American institutional investors seem to play a pivotal role in the market.

Given this pattern, the Coinbase Premium Index is naturally an indicator to keep an eye on shortly, as new changes may again foreshadow the fate of Bitcoin’s price.

BTC Price

At the time of writing, Bitcoin is trading at around $100,800, up more than 6% over the past week.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 71042.49 (+0.08%)
Объем 24H $41.77b
Изменеия 24h: -1.27 %, 7d: 4.26 %
Cегодня L: $70992.39 - H: $71654.21
Капитализация $1421.793b Rank 1
Цена в час новости $ 97860.66 (-27.4%)

bitcoin cryptoquant coinbase index premium latest 100

Источник: bitcoinist.com

bitcoin cryptoquant → Результатов: 126


Фото:

Bitcoin Not ‘Overvalued’ Yet, Says CryptoQuant CEO: Here’s Why

The CEO of the on-chain analytics firm CryptoQuant explained that Bitcoin’s price isn’t currently overvalued based on its network fundamentals. Bitcoin Price May Not Be Overvalued Yet Based On Thermo Cap Ratio In a new post on X, CryptoQuant CEO and founder Ki Young Ju has discussed about how the recent trend in the Bitcoin Thermo Cap Ratio has been like.

2024-6-5 19:00


Stablecoin Exchange Inflow Mean Hits ATH, Why This Could Be Bullish For Bitcoin

On-chain data shows the stablecoin exchange inflow mean has reached a new all-time high, here’s why this might prove to be bullish for Bitcoin. Stablecoin Exchange Inflow Mean Has Surged Up To A New ATH Recently As pointed out by an analyst in a CryptoQuant post, these inflows can be positive for Bitcoin in the long term, but might be bearish in the short term.

2022-11-3 19:00


Bitcoin Bullish Signal: Whales With 1k-10k BTC Have Been Accumulating

On-chain data shows the number of Bitcoin whales with 1k to 10k BTC in their wallets have been increasing lately, suggesting that investors have been accumulating the crypto. Bitcoin UTXO Count Value Bands Show Signs Of Accumulation In Market As pointed out by an analyst in a CryptoQuant post, there seems to be accumulation going in the BTC market in recent days.

2022-11-3 22:00


Bitcoin Miner Selling Power At Lowest For 2022, Green Sign For Market?

On-chain data shows the Bitcoin miner selling power is at its lowest for the year, something that could be favorable for the price of the crypto. Bitcoin Miner Selling Power Has Been Going Down In Recent Weeks As pointed out by an analyst in a CryptoQuant post, the metric has observed surges in its value a few times this year, and each time the BTC price has gone down.

2022-11-2 22:00


Bitcoin Declines Slightly As Short-Term Holders Take Profits

After surging to as high as $20. 9k, Bitcoin has today observed a slight decline back into the low $20k levels as a result of profit taking from short-term holders. Bitcoin Short-Term Holder SOPR Has Been Elevated Over The Past Two Days As pointed out by an analyst in a CryptoQuant post, the short-term holders seem to be using the latest price rise for profit taking.

2022-10-29 08:58


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru