Editor's PiCK
U.S. buying pressure returns after a month… Coinbase Bitcoin premium rebounds
Summary
- 'Coinbase premium' was reported to have turned positive for the first time in a month.
- It said the premium returning to positive signifies ETF-based inflows and a recovery in dollar liquidity.
- An FxPro analyst said that breaking 95,000 dollars is necessary to recover the trend, and also mentioned the possibility of retesting 80,000 dollars.
The "Coinbase premium," which reflects U.S. buying flows for Bitcoin (BTC), has turned positive for the first time in a month.
On the 29th (KST), CoinDesk reported, citing TradingView charts, that the Coinbase premium had returned to positive. The Coinbase premium is the figure obtained by subtracting Binance's Bitcoin price from Coinbase's Bitcoin price. The outlet said, "A positive Coinbase premium indicates ETF-based inflows and a recovery in dollar liquidity."
Various liquidity indicators are also showing signs of a rebound. The supply of stablecoins (crypto assets pegged to fiat currencies) on Binance reached an all-time high of USD 51.1 billion in November.
However, the short-term price range remains narrow. Alex Kuptsikevich, an FxPro analyst, said, "90,000 dollars could act as short-term resistance, and to recover the trend, breaking 95,000 dollars is necessary," adding, "Conversely, if it falls below 87,000 dollars, the possibility of retesting 80,000 dollars is also open."
As of 3:20 p.m. that day, Bitcoin was trading at 90,577 dollars, down 0.85% from the previous day on CoinMarketCap.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
