Bitcoin Coinbase Premium Gap Indicates Increased Buying Activity
A recent post by the CryptoQuant Netherlands community manager highlights a surge in buying activity on Coinbase. The “Coinbase Premium Gap,” which measures the difference between Bitcoin prices on Coinbase and Binance, has been positive in recent days. This suggests that American investors, including institutional holders, have been exerting higher buying pressure compared to global users.
Understanding the Coinbase Premium Gap
Coinbase is popular among US-based investors, while Binance attracts more global traffic. The value of the Premium Gap indicates whether the price on Coinbase is higher or lower than on Binance. A positive value signifies that American investors are applying greater buying pressure or lower selling pressure compared to global users.
Bitcoin’s Price and Coinbase Premium Gap
The Bitcoin Coinbase Premium Gap chart shows an upward trend in recent days, coinciding with the cryptocurrency’s surge above $27,000. This suggests that strong buying pressure from US institutional holders could fuel further price increases.
Continued Observations and BTC Price Recovery
It remains to be seen if the Bitcoin Coinbase Premium Gap will continue to stay positive or if buying activity on the platform will cool down in the future. In terms of BTC price, there was a temporary drop from $27,200 to $26,600 but quickly recovered back to that level.
Hot Take: Increased Buying Pressure on Coinbase Supports Bitcoin’s Rise
The positive Bitcoin Coinbase Premium Gap indicates that users on the Coinbase platform have been actively buying Bitcoin, contributing to its recent surge above $27,000. This trend suggests that American investors, including institutional holders, are driving the market with their increased buying activity. As long as this buying pressure continues, it could provide momentum for Bitcoin to test higher price levels. The coming days will reveal whether the Coinbase Premium Gap remains positive and if buying activity on the platform remains strong.
By
By
By
By
By