On-chain data shows the Bitcoin coinbase premium gap has improved recently and is now approaching a neutral value, suggesting the selling pressure may be drying up.
Bitcoin Coinbase Premium Gap Close To Zero, But Still Negative
Kao što je istakao analitičar u CryptoQuant-u pošta, the selling pressure from US investors seems to have reduced in recent days.
"Coinbase Premium Gap” is an indicator that measures the difference in the Bitcoin prices listed on crypto exchanges Coinbase (USD pair) and Binance (USDT pair).
The quant notes that US investors are known to use the Coinbase platform, especially high-net entities and institutions.
When the value of this metric is positive, it means the price on Coinbase is higher at the moment. Such a trend suggests there has been buying from US investors recently.
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On the other hand, a negative premium gap implies there has been some selling on the crypto exchange as the price is lesser than on Binance.
Now, here is a chart that shows the trend in the Bitcoin Coinbase premium gap over the year 2022 so far:
The value of the metric looks to be negative right now | Source: CryptoQuant
As you can see in the above graph, the Bitcoin Coinbase premium gap has been negative in the last couple of months.
U toku LUNA crash, it reached a highly red value of $131, which means there was some heavy selling from US investors then.
During the consolidation period that followed, as well as during the latest crash, the value of the indicator moved sideways around a negative $20.
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Over the last few days, however, the trend seems to have changed and the premium gap is now observing some upwards movement.
While the indicator still has a negative value, it’s quite close to zero now as the gap between Coinbase and Binance stands at just -$5.
This shows that the selling pressure from US investors has been dying down recently, a sign that could prove to be bullish for the price of Bitcoin.
BTC cena
U vrijeme pisanja, Bitcoin cijena kreće se oko 21.2 hiljada dolara, što je porast od 11% u posljednjih sedam dana. Tokom proteklog mjeseca, kriptovaluta je izgubila 28% na vrijednosti.
Grafikon ispod prikazuje kretanje cijene novčića u posljednjih pet dana.
Čini se da je vrijednost kriptovalute rasla u posljednjih nekoliko dana | Izvor: BTCUSD na TradingView
Since the low below $18k, Bitcoin has been trying to gradually make some recovery. However, the crypto is currently finding it difficult to leave the $21k level.
Istaknuta slika sa stranice Unsplash.com, grafikoni sa stranice TradingView.com, CryptoQuant.com
Source: https://www.newsbtc.com/news/bitcoin/bitcoin-coinbase-premium-gap-zero-selloff-ending/