Summary
- The Bitcoin Coinbase Premium indicator recorded -0.221%, indicating a potential influx of buying pressure.
- In past bull markets, the decline of this indicator often acted as an opportunity, leading to buying pressure.
- It is analyzed that the price formed after the sharp decline has a high possibility of being the bottom, and an upward trend may form soon.
Bitcoin (BTC) Coinbase Premium indicator has fallen to -0.221%, leading to analysis that buying pressure may enter.
On the 24th (local time), CryptoQuant author MAC_D stated, "The Coinbase Premium indicator falling to -0.221% is the fifth occurrence since May. In the past, such phenomena were temporary in bull markets and often seen as opportunities, leading to buying pressure."
The author further analyzed, "It is uncertain whether the price formed after this sharp decline is the bottom, but if it's not the end of the bull market, there's a high possibility that it will form a bottom soon and create an upward trend."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
