The widening Coinbase premium suggests significant institutional buying of Bitcoin, while the potent
Skip to content
AZC.News
en EN
BTC Coin BTC
0.03%
ETH Coin ETH
0.97%
USDT Coin USDT
-0.01%
BNB Coin BNB
-0.82%
SOL Coin SOL
-1.34%
XRP Coin XRP
-0.65%
USDC Coin USDC
0.04%
DOGE Coin DOGE
-4.06%
ADA Coin ADA
-1.69%
AVAX Coin AVAX
-1.34%
BTC Coin BTC
0.03%
ETH Coin ETH
0.97%
USDT Coin USDT
-0.01%
BNB Coin BNB
-0.82%
SOL Coin SOL
-1.34%
XRP Coin XRP
-0.65%
USDC Coin USDC
0.04%
DOGE Coin DOGE
-4.06%
ADA Coin ADA
-1.69%
AVAX Coin AVAX
-1.34%
Search...
Home > News
Published: 31/03/2024
-
Author: Leexim
Institutional Buying of Bitcoin Resumes in the US
The widening Coinbase premium suggests significant institutional buying of Bitcoin, while the potential surge in spot Bitcoin ETF inflows indicates a substantial increase in capital entering the market.
Azcnews Breaking (1)
Bitcoin continues to hover around the $70,000 mark. The cryptocurrency market has witnessed subdued activity amidst economic events, including signs of overheating in the US with the release of the PCE inflation data. However, the Coinbase insurance fee delta indicates that institutional investors are buying back in.
Institutional buying activity began to emerge on March 27, and the Coinbase insurance fee delta turned green again by the end of March 29, following the Fed’s preference for the PCE inflation measure. Analyst Maartunn revealed that since the morning of March 30, the Coinbase insurance fee delta has exceeded 50. He affirmed that US institutions have started buying back Bitcoin.
These figures are often used to determine when US institutions start buying Bitcoin, as it is a highly accurate indicator. This suggests the likelihood of increased capital flow into Bitcoin ETFs in the coming week, ahead of the Bitcoin halving expected in mid-April.
quicktake-image
The Coinbase premium is the difference between the Coinbase Pro price and the Binance price. A higher value typically indicates strong buying pressure from US investors on the cryptocurrency exchange Coinbase. Traders can closely monitor data and trading volumes to confirm market direction.
Analysts at Ryze Labs revealed that the gap between hedge funds and asset managers continues to widen. This difference indicates that while asset managers continue to buy Bitcoin futures contracts, hedge funds are short-selling. In the current price uptrend, this move hints at a potential short liquidation phase, which could fuel the next upward movement of Bitcoin.
Related: BlackRock CEO Very Bullish as Bitcoin ETF Hits $17B
Analyst Michael van de Poppe noted that Bitcoin’s sideways action has kept it around $70,000. However, he assures that Bitcoin is still following its four-year cycle. This cycle may come as a surprise to many. Over a five-year period, $70,000 per Bitcoin is considered a cheap price.
Read More
3.0/5
(1 vote)
Avatar of Sabiu saminu rabiu
Sabiu saminu rabiu
31/03/2024 at 4:06 am
Thank you and Done
Like Reply Share
Leave a Reply
Your email address will not be published. Required fields are marked *
Comment *
Twitter
Telegram
Name
Save my name, email, and website in this browser for the next time I comment.
LATEST
Azcnews Breaking
News | Altcoin | Editor Choice 31/03/2024
MEW – Another Memecoin on Solana Impresses Investors
Yet another memecoin on the Solana network has impressed investors as its Market Cap has surpassed 500 million in just a mere 5 days since its launch. This meme is called Cat in a Dogs World (MEW).
Azcnews Breaking
News | Altcoin | Editor Choice 30/03/2024
Vitalik Buterin Shares Views on Memecoins
The cryptocurrency market is heating up day by day, especially with Memecoins, a type of cryptocurrency that lacks many utilities but is proving to be a force to be reckoned with. Recently, Ethereum CEO Vitalik Buterin shared his perspective on this type of coin.
Azcnews Breaking
News | Altcoin | Editor Choice | Research 29/03/2024
What is Dusk Network? Information about DUSK Token?
Privacy and security rights in digital platforms always receive significant attention from the cryptocurrency community. Dusk Network has been developed to address this issue. So, what is Dusk Network? Let's find out right away!
Azcnews Breaking
News | Altcoin | Editor Choice | Research 29/03/2024
What is Ethena (ENA)? Information about ENA Token?
Recently, Binance announced the listing of Ethena (ENA) as its 50th Binance Launchpool project. So, what is Ethena (ENA)? Let's explore ENA Token.
Azcnews Breaking1
News | Altcoin | Editor Choice 29/03/2024
Binance Announces Listing of Ethena (ENA) on Launchpool
Binance exchange announces its 50th launchpool project, Ethena (ENA), a decentralized protocol issuing stablecoin built on Ethereum.
Top views
1
Ether.fi (ETHFI) Announces Token Airdrop
2
Short-Term Bitcoin Investors Have Reaped Profits
3
Guide to Participating in Eclipse Testnet
4
NIM Network Announces Airdrop of 90 Million Tokens
5
Standard Chartered Forecasts Bitcoin to Rise to $250,000
6
How to Participate in the Backpack Airdrop
7
Bitcoin Halving Chart History Analysis
8
What is ChatAI? Information about CHATAI Token?
9
Solana Earns the Title of Ethereum Slayer
10
The Resurgence of “RWA” Token Category
About AZC.News
About Us
Contact Us
Privacy Policy
Terms of Services
Market
Analytics
Top Crypto Exchange
Top Cryptocurrency
Knowledge
Research
Glossary
Earn
Airdrop
Social Community
Copyright 2024 © AZ Coiner
