The founder and CEO of the analytics firm CryptoQuant has pointed out how the latest Bitcoin rally saw buying from the Coinbase exchange whales.
Bitcoin Coinbase Premium Index Saw A Sharp Green Spike Alongside Rally
In a new post on X, CryptoQuant founder and CEO Ki Young Ju has talked about the latest trend in the Bitcoin Coinbase Premium Index. The “Coinbase Premium Index” is an indicator that keeps track of the difference between the BTC price listed on Coinbase (USD pair) and that on Binance (USDT pair).
When the value of this metric is positive, it means the asset is trading at a higher rate on Coinbase as compared to Binance. Such a trend implies the former is receiving a higher amount of buying pressure (or lower amount of selling pressure) than the latter.
On the other hand, the indicator being negative suggests Binance is the platform witnessing the more accumulation as traders are willing to pay a higher rate…
