Institutional investors in the U.S. are driving the Bitcoin premium on Coinbase, indicating significant interest from large market players.
Sustained Bitcoin Premium
The Bitcoin premium on Coinbase has remained positive for 265 hours, signaling strong interest from institutional investors. Companies like MicroStrategy recently acquired 3,459 BTC valued at $285.8 million.
Increase in Trading Volume at Coinbase
The sustained positive premium has coincided with a 20% increase in trading volume on Coinbase as Bitcoin reached a high of $86,000, stabilizing around $84,650. The market shows consolidation, which may indicate future rallies.
Future Perspectives of the Premium
Analysts note that the sustained premium reflects increased institutional demand in the U.S., which may catalyze further bullish momentum. However, market participants are cautious due to signals of an overbought condition as the MVRV Ratio reaches 3.2.
The development of the Bitcoin premium at Coinbase, particularly the increasing interest from institutional investors, may herald market and regulatory changes in the future.
