Bitcoin Sets New All-Time High Above $69,000 As Institutionals Show FOMO

Bitcoin has set a new all-time high (ATH) above the $69,000 level as institutional investors have aggressively bought on Coinbase. Bitcoin Has Set A New ATH Above $69,000 The moment that every Bitcoin investor had been looking forward to has finally arrived today. The cryptocurrency just smashed past the record set in November 2021 to [...]

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Bitcoin Coinbase Premium Returns To Neutral: Buying Push Already Over?

The positive Bitcoin Coinbase Premium that drove the latest rally above $70,000 has dissipated, suggesting buying has already slowed down. Bitcoin Coinbase Premium Gap Has Returned To Neutral Levels CryptoQuant Netherlands community manager Maartunn explained in a post on X that the Bitcoin Coinbase Premium Gap has declined back toward the neutral line. The Coinbase [...]

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Bitcoin Has Undergone This Bearish Structure Change, Analyst Explains

An analyst has explained that the recent trend in the Bitcoin Coinbase Premium Gap suggests a significant change in the assets structure. Bitcoin Coinbase Premium Gap Has Continued To Be Negative In a new post on X, analyst Maartunn discussed how the Bitcoin Coinbase Premium Gap is still negative. The Coinbase Premium Gap here refers [...]

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Bitcoin Coinbase Premium Turns Red, US Institutions Disinterested?

Data shows the Bitcoin Coinbase Premium Gap has turned negative recently, a sign that large US-based investors may be selling currently. Bitcoin Coinbase Premium Gap Has Remained Near Neutral For A While Now As pointed out by an analyst in a CryptoQuant post, the interest from US investors in the asset has declined during the [...]

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Bitcoin Coinbase Premium Continues To Decline, Buying Pressure Ending?

Data shows the Bitcoin Coinbase Premium has declined recently, suggesting that the buying pressure may be slowing down from the US investors. Bitcoin Coinbase Premium Index Has Gone Down In Recent Days An analyst in a CryptoQuant post pointed out that the market may be shifting towards a more balanced sentiment now. The “Coinbase Premium Index” [...]

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Rising CPI data triggered specific selling among US traders

Bitcoin’s price took a hit earlier this week, dropping to $94,000 upon the release of the US Consumer Price Index (CPI) data for January. The data, published on Feb. 12, showed the YoY inflation and core CPI came in above expectations, showing that the inflationary pressures in the US failed to decrease. While Bitcoin has […]

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Bitcoin Trades At Discount For The Past Month Signaling Selling Pressure What This Means

Volatility remains the norm in the Bitcoin market, with aggressive price swings defining the past few days. On Monday, BTC dropped to $97K before surging to $106K yesterday. However, the price has since retraced and now consolidates around the $102K mark, keeping investors on edge about its next move. Related Reading: Chainlink Could Target $30 Once It Breaks Bullish Pattern Top Analyst Top analyst Daan shared key insights from Coinglass, revealing that Bitcoin has mostly traded with a Coinbase discount over the past month, as indicated by the Coinbase premium index. This means that other spot exchanges are pricing BTC higher than Coinbase, signaling increased selling pressure from US investors. A Coinbase premium typically indicates strong demand from institutional and ETF buyers, reinforcing bullish sentiment. However, with the index currently flat, the US market seems indecisive. As Bitcoin consolidates below all-time highs, traders are closely watching whether it can reclaim key resistance levels or face another wave of selling pressure. If BTC breaks above $106K again, a test of the all-time high could follow. However, losing the $100K support level could lead to further downside and extended consolidation. The coming days will be crucial in determining the next phase for Bitcoin. Bitcoin At A Crucial Level As Market Awaits Next Move Bitcoin is at a pivotal moment after failing to retest its all-time high (ATH) and now seeking support to fuel the next leg up. The $110K level remains the key psychological target above ATH, and once BTC breaks and holds above it, the entire market could enter a new bullish phase. Related Reading: Cardano Consolidates Within A Symmetrical Triangle Expert Sees A 40% Move Once It Breaks Despite recent upside momentum, BTC has struggled to gain a clear breakout, leading to uncertainty among investors. Analysts remain dividedsome see this as a natural consolidation before Bitcoin makes its next big move, while others worry about a deeper correction if BTC fails to hold key support levels. Top analyst Daan shared key insights from Coinglass, revealing that Bitcoin has mostly traded with a Coinbase discount over the past month. This means that BTC is priced lower on Coinbase compared to other spot exchanges, indicating that selling pressure is coming primarily from US investors. Historically, a Coinbase premium has signaled strong institutional demand, particularly from ETFs and major financial players. However, with the index currently flat, the US market seems cautious. For BTC to confirm a bullish breakout, holding above $102K and reclaiming $106K is critical. If Bitcoin loses these levels, a retest of $100K support could be imminent, delaying a breakout into price discovery. Bitcoin Price Consolidates Below Key Levels Bitcoin is currently trading at $102,400, showing signs of consolidation as the price remains bounded between the $106K resistance and the $100K support levels. This range has defined Bitcoins short-term movements, and a breakout in either direction will likely dictate the next trend. A breakdown below $100K could lead to further consolidation or even a deeper correction, delaying Bitcoins bullish breakout. If BTC fails to hold this psychological level, selling pressure could increase, pushing prices lower before any attempt at recovery. On the other hand, reclaiming and holding above $106K would be a major bullish signal, suggesting that price discovery is imminent. This would clear the path for Bitcoin to test its all-time high (ATH) and target the $110K mark, potentially triggering a fresh rally. Related Reading: Solana Restested A Key Level And Now Faces Resistance Breakout Next? For now, uncertainty remains the dominant theme as the market waits for a decisive price move to confirm short-term direction. With volatility increasing, traders are closely monitoring these key levels, knowing that a clean breakout or breakdown will set the tone for Bitcoins next major move. Featured image from Dall-E, chart from TradingView

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Bitcoin Bearish Signal: Exchanges Observe Growing Reserves

On-chain data shows exchanges have been observing recent growth in their Bitcoin reserves, a sign that selling pressure may be increasing. All Exchanges Observe Growing Bitcoin Reserves, Except For Coinbase As an analyst in a CryptoQuant post pointed out, only Coinbase has seen some withdrawals recently. The relevant indicator here is the “exchange reserve,” which [...]

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Bitcoins Next Move? Coinbase Premium Suggests a Short-Term Rally May Be Brewing

According to recent insights, Bitcoin (BTC) seems to be on the verge of another rally, which suggests the potential for short-term upward momentum. At the heart of this discussion is the Coinbase Premium Index, a critical indicator analyzed in one hour by CryptoQuant analyst Yonsei Dent. This metric and specific moving average trends have highlighted conditions [...]

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Bitcoin Coinbase Premium Giving Potential Buy Signal, Quant Says

A quant has explained how the latest trend in the Bitcoin Coinbase Premium Index could imply a buying opportunity for the asset. Bitcoin Coinbase Premium Index Has Plunged To -0.221% In a CryptoQuant Quicktake post, an analyst talked about the latest development in the Bitcoin Coinbase Premium Index. The “Coinbase Premium Index” refers to a metric that keeps track of the percentage difference between the BTC price on Coinbase (USD pair) and that on Binance (USDT pair). When the value of this metric is positive, it means the cryptocurrency is trading at a higher rate on Coinbase than on Binance. Such a trend implies there is a higher buying pressure or a lower selling pressure present on the former as compared to the latter. Related Reading: Dogecoin & Other Memecoins No Longer Grabbing Social Media Attention: Santiment On the other hand, the indicator being under the zero mark suggests that Binance users are participating in a higher amount of buying than Coinbase ones as they have pushed BTC to a higher value there. Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Index over the last few months: From the graph, it’s visible that the Bitcoin Coinbase Premium Index has seen a sharp decline into the negative region recently, meaning that sellers have appeared on Coinbase. Alongside this selling, the BTC price has also witnessed a decline, which would suggest the negative premium could be the source of it. The cryptocurrency has actually been following the indicator in this manner throughout the year, with its price going up and down alongside buying and selling shifts on Coinbase. The reason behind this relationship potentially lies in the fact that Coinbase is home to US-based institutional investors, who have had a significant presence in the market this year. The Coinbase Premium Index being red right now would naturally imply these giant investors are selling. Considering that BTC’s price has been following the metric, this would be a bearish signal for the asset. There exists another pattern, however, that could imply a different outcome for Bitcoin. As the quant has highlighted in the chart, the metric has seen a rebound whenever its value has gone to the -0.2% mark during the past year. Related Reading: Bitcoin To Top Above $168,500 Based On This Indicator, Analyst Reveals The explanation behind the pattern may be that it’s usually around this level of selling that new buyers show up and decide to accumulate on the dip, pushing the metric as well as the price up in the process. The current value of the indicator is sitting at -0.221%, so it’s possible that Bitcoin could be close to reaching a bottom, if it hasn’t already formed one. This would only be, of course, if the institutional investors think that the bull run is still on. BTC Price Bitcoin briefly went under the $93,000 level yesterday, but it seems the coin has found a rebound as its price is now trading around $94,100. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

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Bitcoin Crashes Under $93,000: Whats Behind It?

Bitcoin has observed a plunge under the $93,000 level during the past day. Here’s what the trend in an indicator suggests about what could be behind this downturn. Bitcoin Coinbase Premium Gap Has Gone Cold As pointed out by CryptoQuant community analyst Maartunn in a new post on X, the Coinbase Premium Gap has returned [...]

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Ethereum Prepares For Potential Rally To $6,000, Analyst Says

Following a slight price dip on Friday, Ethereum (ETH) has displayed much resilience climbing by 2.84% in the past 24 hours. Commenting on the altcoins possible next movements, crypto analyst Ali Martinez has painted a potential trajectory to a new all-time high at $6,000. Related Reading: Ethereum Underperforming, Dont Blame The Network Or Leadership: Heres Why Ethereum Now At Critical Support Zone – Heres Why In an X post on Saturday, Martinez shares that Ethereum is currently testing a key support level at $2,400. Notably, Ethereum slipped to around $2,410 on Friday and has since remained in this price zone following a recent rejection at $2,500. According to Ali Martinez, ETH must maintain support at $2,400 to avoid breaking an ascending channel that stretches as far back as July 2023. #Ethereum is testing a key support zone at $2,400. If this level holds, we might see $ETH aiming for the channel’s upper boundary near $6,000! pic.twitter.com/W8J8WVy5CL Ali (@ali_charts) October 26, 2024 Based on the analysts trading chart, a successful retest at the specified support zone will allow ETH to surge above the $3,000 mark before experiencing a consolidation between $3,350 – $3,750. Thereafter, another price breakout will occur which should push Ethereums price to the upper end of its ascending channel around $6,000, indicating a potential 142% gain on the assets current market price. However, If Ethereum bulls fail to hold the support at $2,400, the altcoin could fall by 40% finding a new support level at $1,500. To avoid significant losses in this high risk to reward situation, Ali Martinez has advised traders to put a stop loss between $2,150 – $2,300.   Related Reading: Crypto Analyst Says Ethereum Will Outperform Bitcoin And Solana, Is $12,000 Possible? Coinbase Premium Negative Index Signals Bearish Sentiment For ETH Market In other news, CryptoQuant analyst Darkfost has noted that the Ethereum Coinbase Premium Index is currently at -2 and is highly negative. According to Darkfost, this development indicates that US institutional investors or market whales are currently aggressively offloading their ETH holdings.  For short-term traders, this is a strong bearish signal as Ethereum is likely to experience a downtrend in the coming days. However, Darkfost states that long-term traders may want to utilize such price decline as a perfect accumulation opportunity. At the time of writing, ETH trades at $2,473 per unit. While the altcoin might have recorded a minor gain in the past day, a decline of 6.47% and 6.27% in the last seven and thirty days, respectively, still leaves much for investors to desire. In addition, Ethereum’s daily trading volume, valued at $12.22 billion, reflects a  48.27% decline representing a reduced market liquidity and potential heightened price volatility. Featured image from Dribble, chart from Tradingview

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Bitcoin Coinbase Premium Surges, Recovery Being Driven By US Investors?

Data shows the Bitcoin Coinbase Premium Index has recently seen a surge, a sign that buying from US investors may contribute to the recovery. Bitcoin Coinbase Premium Index (7-Day SMA) Has Been Going Up Recently According to data shared by Julio Moreno, the Head of Research at CryptoQuant, the Coinbase Premium Index has been sharply [...]

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Bitcoin Coinbase Premium Sinks To Lowest Since FTX Crash: Bottom In?

Data shows the Bitcoin Coinbase Premium Index has witnessed a plunge to two-year lows recently. Here’s what this could mean for BTC’s price. Bitcoin Coinbase Premium Index Has Plummeted Over The Past Month As explained by an analyst in a CryptoQuant Quicktake post, the BTC Coinbase Premium Index has seen a sharp drawdown into negative territory recently. The “Coinbase Premium Index” here refers to an indicator that keeps track of the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair). This metric’s value can tell us about the difference in the buying and selling behaviors of the investors present in the two cryptocurrency exchange giants. More specifically, the indicator represents how the moves of the American institutional entities (the dominant force on Coinbase) differ from those of the global whales. When the Coinbase Premium Index has a positive value, it means the asset is trading at a higher rate on Coinbase than on Binance. Such a trend implies that US-based whales participate in a higher amount of buying (or a lower amount of selling) than global investors. Related Reading: Bitcoin Decline Continues: Is $86,800 The Level To Watch? On the other hand, the metric being under the zero mark suggests that Binance users are the ones taking part in the higher amount of buying, as the coin is going for a higher price there. Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Index over the past year: As displayed in the above graph, the Bitcoin Coinbase Premium Index was at a positive level during the cryptocurrency’s exploration of new highs in the last two months of 2024. The pattern observed throughout the year was that the American institutional investors occupied the driving seat in the market, with shifts in buying and selling pressure from them reflecting in the asset’s price. Around mid-December, the indicator started to dip into the negative territory and has since maintained the trajectory. BTC’s spot value has also shown a downward trajectory alongside this trend, so it seems that Coinbase users continue to play a prime role in the sector. Following the latest continuation of the drop, the Coinbase Premium Index has dipped lower than the low from October. In fact, the indicator has now been at its lowest value since November 2022, more than two years ago. Related Reading: Bitcoin Sentiment Now Worst Since Mid-October: Reversal Signal? Considering that the Coinbase whales have been important for Bitcoin’s direction in the past year, the indicator being locked in a downtrend could spell further doom for the cryptocurrency’s price. That said, the asset has historically tended to bottom out when selling pressure has become too strong on Coinbase, as eventually new buyers start showing up to take coins at a cheaper rate off the hands of the sellers. The sharp negative spike alongside the FTX crash also resulted in a major bottom for BTC. It only remains to be seen, though, whether the FUD from the US-based investors has reached a high enough level for a bottom or not. BTC Price Bitcoin has kicked the new year off on a positive note as the asset’s price has seen a recovery rally to the $96,600 level. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

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Quant Explains How These Indicators Affect Ethereum Price

A quant has explained how the indicators like taker buy/sell ratio and Coinbase premium index can influence the price of Ethereum. Ethereum’s Relationship With Taker Buy/Sell Ratio & Coinbase Premium Index In a new CryptoQuant quicktake post, an analyst has discussed some metrics that could hold relevance for the ETH price. The first indicator of [...]

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