Institutional Buying Fuels Coinbase Premium
Data from Quant CEO Ki Young Ju reveals that institutional brokers are actively purchasing Bitcoin on Coinbase. The Coinbase Premium Index, which measures the price difference between Bitcoin on Coinbase and other exchanges, has been positive in recent weeks. This indicates higher buying pressure from US-based institutions.
US Institutions Drive Rally
The Coinbase Premium Index rose as Bitcoin’s price surged, suggesting net buying in the market. A study by Will Clemente of Blockware Research shows that Bitcoin has experienced the most positive returns during American trading hours, confirming the presence of exceptional buying pressure from US-based entities.
Bitcoin Breaks $52,000
Following the institutional buying, Bitcoin has broken above the $52,000 mark. The continued positive Coinbase Premium Index suggests that the rally may continue if institutions continue to buy. Conversely, a dip into negative territory would indicate selling pressure from these entities.
