The Bitcoin Coinbase Premium Index suggests US investors have been selling more heavily than others during the latest crash in the crypto.<\/p>\n
As pointed out by an analyst in a CryptoQuant post<\/a>, whales on Coinbase Pro seem to have been behind the latest dump.<\/p>\n The \u201cCoinbase Premium Index<\/a>\u201d is an indicator that measures the percentage difference between the Bitcoin price listed on Coinbase Pro (USD Pair) and the one listed on Binance (USDT pair).<\/p>\n Coinbase Pro is popularly known to be used by investors based in the US (especially large institutionals), while Binance gets a more global traffic.<\/p>\n Therefore, the price gaps listed on these two crypto exchanges can hint at which investors are selling or buying more.<\/p>\n When the metric has a positive value, it means the value of BTC on Coinbase is higher than on Binance right now, suggesting that US investors have provided more buying pressure recently.<\/p>\n On the other hand, negative values of the premium suggest American holders are dumping more than global investors at the moment.<\/p>\n Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Index over the past year:<\/p>\n\n The value of the metric seems to have been red in recent days | Source: CryptoQuant<\/a><\/p>\n As you can see in the above graph, the Bitcoin Coinbase Premium Index has plunged into negative values recently along with the crash<\/a>.<\/p>\n This means that US investors have been dumping more aggressively than investors from the rest of the world in the past week.<\/p>\n Also, as is clearly visible in the chart, a similar trend was also seen back in early May, when BTC\u2019s price crashed from $40k to $30k.<\/p>\n The quant notes that while Coinbase observed this selling, the Bitcoin Korea Premium Index showed an interesting behavior. The below chart highlights this trend.<\/p>\n\n Looks like this metric had a green value recently | Source: CryptoQuant<\/a><\/p>\n The Korea Premium Index measures the gap between the prices listed on South Korean crypto exchanges, and that on other exchanges.<\/p>\n From the graph, it\u2019s apparent that during both the current crash as well as the one in May, the indicator showed positive spikes.<\/p>\n This implies that while the US investors were dumping, the Korean investors were focusing on \u201cbuying the dip.\u201d<\/p>\n At the time of writing, Bitcoin\u2019s price<\/a> floats around $16.8k, down 15% in the last week. Over the past month, the crypto has shed 11% in value.<\/p>\n\n BTC has been stuck in consolidation under $17k in the last few days | Source: BTCUSD on TradingView<\/a> <\/p>\n The Bitcoin Coinbase Premium Index suggests US investors have been selling more heavily than others during the latest crash in the crypto.<\/p>\n As pointed out by an analyst in a CryptoQuant post<\/a>, whales on Coinbase Pro seem to have been behind the latest dump.<\/p>\n The \u201cCoinbase Premium Index<\/a>\u201d is an indicator that measures the percentage difference between the Bitcoin price listed on Coinbase Pro (USD Pair) and the one listed on Binance (USDT pair).<\/p>\n Coinbase Pro is popularly known to be used by investors based in the US (especially large institutionals), while Binance gets a more global traffic.<\/p>\n Therefore, the price gaps listed on these two crypto exchanges can hint at which investors are selling or buying more.<\/p>\n When the metric has a positive value, it means the value of BTC on Coinbase is higher than on Binance right now, suggesting that US investors have provided more buying pressure recently.<\/p>\n On the other hand, negative values of the premium suggest American holders are dumping more than global investors at the moment.<\/p>\n Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Index over the past year:<\/p>\n The value of the metric seems to have been red in recent days | Source: CryptoQuant<\/a><\/p>\n As you can see in the above graph, the Bitcoin Coinbase Premium Index has plunged into negative values recently along with the crash<\/a>.<\/p>\n This means that US investors have been dumping more aggressively than investors from the rest of the world in the past week.<\/p>\n Also, as is clearly visible in the chart, a similar trend was also seen back in early May, when BTC\u2019s price crashed from $40k to $30k.<\/p>\n The quant notes that while Coinbase observed this selling, the Bitcoin Korea Premium Index showed an interesting behavior. The below chart highlights this trend.<\/p>\n Looks like this metric had a green value recently | Source: CryptoQuant<\/a><\/p>\n The Korea Premium Index measures the gap between the prices listed on South Korean crypto exchanges, and that on other exchanges.<\/p>\n From the graph, it\u2019s apparent that during both the current crash as well as the one in May, the indicator showed positive spikes.<\/p>\n This implies that while the US investors were dumping, the Korean investors were focusing on \u201cbuying the dip.\u201d<\/p>\n At the time of writing, Bitcoin\u2019s price<\/a> floats around $16.8k, down 15% in the last week. Over the past month, the crypto has shed 11% in value.<\/p>\nBTC Price<\/h2>\n
\nFeatured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin Coinbase Premium Index Has Turned Deep Red Recently<\/h2>\n
BTC Price<\/h2>\n