- Bitcoin Buying Pressure on Binance
- Bitcoin (BTC) Futures: Institutions Done Shorting?
- Bitcoin Fear and Greed Index
On September 20, 2024, Coinbase Premium metrics dropped to multi-week lows. Combined with a mini-rally of the Bitcoin (BTC) price, this signals investor optimism on Binance (BNB), the world's largest cryptocurrency exchange by trading volume.
Bitcoin Buying Pressure on Binance
Pseudonymous crypto analyst Avocado Onchain reported that negative Coinbase Premium metrics indicate strong buying pressure on Binance. This typically occurs when BTC price is falling, but today's situation looked different. He highlighted that the Bitcoin (BTC) price might surge significantly once the FOMO effect spreads across various regions.
Bitcoin (BTC) Futures: Institutions Done Shorting?
The overall situation looks 'quite positive' for researchers as Bitcoin (BTC) is trying to hold the $63,500 level on major spot exchanges. Additionally, a positive indicator was registered by CryptoQuant CEO Ki Young Ju in CME futures open interest statistics.
Bitcoin Fear and Greed Index
The Bitcoin Fear and Greed Index jumped to the neutral zone and hit 54/100 for the first time in more than three weeks, data shows. This could indicate greater investor confidence in the current market situation.
Recent metrics show that the buying pressure for Bitcoin on Binance continues to grow, which could lead to a noticeable price increase. The intensity of short positions on futures is decreasing, and the Fear and Greed index also signals an improvement in investor sentiment.
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