{"id":3827,"date":"2024-12-06T08:30:38","date_gmt":"2024-12-06T08:30:38","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3827"},"modified":"2024-12-06T08:30:38","modified_gmt":"2024-12-06T08:30:38","slug":"bitcoin-surpasses-100000-as-institutionals-run-the-show-cryptoquant","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3827","title":{"rendered":"Bitcoin Surpasses $100,000 As Institutionals Run The Show: CryptoQuant"},"content":{"rendered":"
\n

Data from CryptoQuant has revealed how institutional investors have been the drivers behind the latest Bitcoin surge above $100,000.<\/p>\n

Bitcoin Coinbase Premium Index Has Been Positive Recently<\/h2>\n

In a new post<\/a> on X, the on-chain analytics firm CryptoQuant has discussed the latest trend in the Bitcoin Coinbase Premium Index. The \u201cCoinbase Premium Index<\/a>\u201d refers to a metric that keeps track of the percentage difference between the BTC price listed on Coinbase (USD pair) and that on Binance (USDT pair).<\/p>\n

The indicator tells us about how the buying or selling behaviors differ between the user bases of these cryptocurrency exchange giants. Coinbase\u2019s main traffic comprises US-based investors, especially large institutional entities<\/a>, while Binance hosts users worldwide.<\/p>\n

When the Coinbase Premium Index has a positive value, the asset trades at a higher rate on Coinbase than on Binance. Such a trend implies that American whales have been applying a greater buying or lower selling pressure than the global investors.<\/p>\n

On the other hand, the negative indicator suggests that Binance users may be buying more than Coinbase users as BTC is going for a higher price there.<\/p>\n

Now, here is the chart shared by the analytics firm that shows the trend in the Bitcoin Coinbase Premium Index over the past year:<\/p>\n

\"Bitcoin<\/p>\n

As displayed in the above graph, the Bitcoin Coinbase Premium Index registered a sharp surge into the positive territory at the start of November and has since maintained inside this territory, save for a brief dip.<\/p>\n

This trend naturally means that the buying pressure on Coinbase has consistently been higher than that on Binance. The\u00a0asset\u2019s price\u00a0enjoyed a\u00a0sharp rally<\/a> during this period, so it would also appear that this accumulation from\u00a0US-based investors\u00a0has fueled the surge.<\/p>\n

The chart shows that this pattern has also been witnessed on multiple instances throughout the past year, with positive spikes in the Coinbase Premium Index generally being bullish for Bitcoin.<\/p>\n

The latest rally to the new all-time high (ATH) above $104,000 has also come as the indicator has registered another sharp green spike. Thus, American institutional investors seem to play a pivotal role in the market.<\/p>\n

Given this pattern, the Coinbase Premium Index is naturally an indicator to keep an eye on shortly, as new changes may again foreshadow the fate of Bitcoin\u2019s price.<\/p>\n

BTC Price<\/h2>\n

At the time of writing, Bitcoin is trading at around $100,800, up more than 6% over the past week.<\/p>\n

\"Bitcoin<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Data from CryptoQuant has revealed how institutional investors have been the drivers behind the latest Bitcoin surge above $100,000. Bitcoin Coinbase Premium Index Has Been Positive Recently In a new post on X, the on-chain analytics firm CryptoQuant has discussed the latest trend in the Bitcoin Coinbase Premium Index. The \u201cCoinbase Premium Index\u201d refers to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3827","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3827"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3827\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}