Bitcoin price continues to stay afloat above $70,000 despite the long holiday weekend. The crypto market mostly saw subdued activity amid some economic events including the US PCE inflation release, which came slightly hot. The total crypto market volume over the last 24 hours has dropped over 15%. However, Coinbase premium gap indicates institutional investors are buying again.
Coinbase Premium Gap Indicates Bitcoin Buying
Institutional buying started fading on March 27 and the Coinbase premium gap turned green again late March 29 after the Fed preferred inflation gauge PCE. Since March 30 morning, the Coinbase premium gap exceeded 50, revealed on-chain analyst Maartunn. He asserts that US institutions may have started to buy Bitcoin again.
The metric is commonly used to determine when US institutions are starting to purchase Bitcoin, as it is a highly accurate indicator. This suggests odds of high inflow in spot Bitcoin ETFs in the next week before the Bitcoin halving, expected to ha
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