Bitcoin has broken above the $52,000 mark as data shows that institutional traders have continued to apply their buying pressure on the asset.
Bitcoin Coinbase Premium Is Notably Positive Right Now
According to CryptoQuant founder and CEO Ki Young Ju, institutional brokers have been buying on Coinbase to fulfill their clients’ Bitcoin purchase orders.
The metric of interest here is the “Coinbase Premium Index,” which keeps track of the percentage difference between the BTC prices listed on cryptocurrency exchanges Coinbase and Binance.
The former is popularly known to be used by American institutional entities, while the latter has a more global user base. As such, this metric can provide us with hints about the differences in these two demographics’ buying and selling behaviors.
Here is a chart that shows the trend in the Coinbase Premium Index for Bitcoin over the past couple of weeks:
The graph shows that the Bitcoin Coinbase Premium Index has been mostly at positive levels
We współpracy z: https://bitcoinist.com/bitcoin-breaks-52000-institutional-buying-continues/
