Bitcoin Coinbase Premium Declines, But Still At Green Values, Bullish Signal?
16 Mar 2023 1:30 PM
Data shows the Bitcoin Coinbase Premium has seen some decline, but the metric remains at very positive values, a sign that may be bullish for the price....
- The Bitcoin Coinbase Premium Index measures the percentage difference between the Bitcoin price listed on Coinbase and that on Binance.
- The metric shows that US investors are currently putting a higher amount of buying pressure on Bitcoin compared to the worldwide users.
- The indicator hit a new all-time high of about 1% a few days ago, but has since fallen to just under 0.4.
- The decline in the metric suggests that the buying pressure from American investors has dropped off, but the value is still positive, which may be a bullish sign for the asset's price.
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The article has a generally positive sentiment, as it suggests that the Bitcoin Coinbase Premium Index remaining at positive values may be a bullish sign for the asset's price. However, it also notes that the decline in the metric suggests a drop in buying pressure from American investors.
What is the Bitcoin Coinbase Premium Index?
What does a positive value of the metric indicate?
What caused the recent surge in the indicator?
What does the decline in the metric suggest?
What is the current price of Bitcoin and how much has it increased in the last week?
Bitcoin Bullish Signal
Bitcoin Coinbase Premium
Bitcoin Coinbase Premium Index