A quant has explained what a potential leading Bitcoin indicator could say about what’s next for the cryptocurrency’s price.
Bitcoin Coinbase Premium May Hold The Answer To Where BTC Goes Next
In a CryptoQuant Quicktake post, an analyst has talked about the trend currently taking place in the Bitcoin Coinbase Premium. “We can use the trend of Coinbase Premium as a leading indicator of the future direction of BTC price,” notes the quant.
The “Coinbase Premium” is a metric that keeps track of the difference between the Bitcoin price listed on the cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair).
When the value of this indicator is positive, it means that the price listed on Coinbase is higher than on Binance right now. Such a trend suggests the buying pressure is higher (or the selling pressure is lower) on the former platform than on the latter.
On the other hand, the negative premium implies Coinbase might be observing a higher amount of sel
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