Editor's PiCK
Despite BTC Rise, Coinbase Premium Falls…Potential Weakening of Upward Momentum
Son Min
Summary
- Bitcoin prices have risen, but the Coinbase Premium has fallen.
- The launch of Bitcoin spot ETFs and the presidential election highlight the influence of North American investors.
- If not driven by U.S.-based demand, it could mean a potential weakening of the medium-term upward momentum.
An analysis suggests that the medium-term upward momentum of Bitcoin (BTC) could weaken.
On the 17th (local time), CryptoQuant stated on X, "A divergence has formed between the Coinbase Premium and Bitcoin price over the past two weeks," adding, "While the Bitcoin price rose from $94,000 to $106,000, the Coinbase Premium decreased."
Furthermore, they explained, "With the launch of Bitcoin spot ETFs and the presidential election, the influence of North American investors is becoming increasingly important," and "If this price rise is not driven by U.S.-based demand, it could mean a potential weakening of the medium-term upward momentum."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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