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American Whales Back Bitcoin Rally: Coinbase Premium Surging

Data shows the Bitcoin Coinbase Premium Gap has recently been going up, a sign that large US-based entities may be backing the price surge.

Bitcoin Coinbase Premium Gap Has Recently Been Green
As explained by an analyst in a CryptoQuant Quicktake post, the Coinbase Premium Gap has been following a gradual rise during the past few weeks. The “Coinbase Premium Gap” is an indicator that measures the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair).

When the value of this metric is positive, it means the cryptocurrency is trading at a higher price on Coinbase than Binance. Such a trend implies the buying pressure is higher (or the selling pressure is lower) on the former as compared to the latter.

American Whales Back Bitcoin Rally: Coinbase Premium Surging

Data shows the Bitcoin Coinbase Premium Gap has recently been going up, a sign that large US-based entities may be backing the price surge.

Bitcoin Coinbase Premium Gap Has Recently Been Green
As explained by an analyst in a CryptoQuant Quicktake post, the Coinbase Premium Gap has been following a gradual rise during the past few weeks. The “Coinbase Premium Gap” is an indicator that measures the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair).

When the value of this metric is positive, it means the cryptocurrency is trading at a higher price on Coinbase than Binance. Such a trend implies the buying pressure is higher (or the selling pressure is lower) on the former as compared to the latter.

https://bitcoinist.com/american-whales-bitcoin-rally-coinbase-premium/