Content
@
0 reply
0 recast
0 reaction
xiaoyao
@xys
According to CryptoQuant's data, Bitcoin's premium on Coinbase has dropped to its lowest negative level since the FTX crash. David Lawant of FalconX pointed out that such negative readings typically occur at local bottoms in prices and indicate subsequent increases. The Coinbase Premium Index, which measures the price difference between Bitcoin on Coinbase and Binance, has recently dropped to -0.19. This indicates weak demand from US investors and increased selling pressure, partly due to outflows of ETF funds and the government selling confiscated assets through Coinbase. However, such readings typically indicate a bottom in prices, such as in November 2022 when BTC prices rose by more than 50% in the months following the bottom @jijijdaa @thinkdo
0 reply
0 recast
0 reaction
