Mujeeb๐๐ฉ๐ญ
@mujeeb
Bitcoin Coinbase Premium Index Turns Positive Key Points: - Coinbase Premium Index measures price difference between Coinbase (USD) and Binance (USDT) - Index has turned positive, indicating higher buying pressure or lower selling pressure on Coinbase - Suggests US-based investors, particularly institutional entities, are driving Bitcoin's price action - Coinbase Premium Index has closely followed Bitcoin's price movement in 2024 Current Trends: - Bitcoin approaching cost basis of short-term holder cohort ($66,300) - Surpassing this level would put all short-term holders (last 6 months) in the green - Bitcoin trading around $65,700, up 3% over the past week Implications: - Positive Coinbase Premium Index may indicate continued buying pressure - Reversal of index could signal bearish trend for Bitcoin - US-based whales driving price action, reflecting global market sentiment.
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Fatymah๐๐ฉ๐ญโก๏ธ๐
@fatymah
430 $degen
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MokeOla๐ญ๐ฉ๐๐ฅ๐ฐ๐ท
@mokeolaz
Your balance got a boost of +100 ๐ฅ FIRE. Check it out.
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