Is Institutional Selling Responsible for Bitcoin’s (BTC) Drop to $57,000? Latest Data Insights
full version at en.coinotag
- Data shows the Bitcoin Coinbase Premium has been negative for a while now, a sign that institutional selling has been occurring behind the scenes.
- The “Coinbase Premium Gap” is an indicator that keeps track of the difference between the BTC prices listed on the cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair).
- Recent sharp negative values of the indicator have coincided with the recent crash that the cryptocurrency has observed, suggesting that selling on the platform may be behind the crash.
Recent data reveals a negative Bitcoin Coinbase Premium, indicating a surge in institutional selling. This trend could be a significant factor behind the recent cryptocurrency crash.
Bitcoin Coinbase Premium Gap Has Turned Quite Negative Recently
As pointed out by CryptoQuant Netherlands community manager Maartunn in a post, the Bitcoin Coinbase Premium Gap has been negative for seven straight days. This indicator tracks the difference between the BTC prices listed on the cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair). A positive value indicates higher buying pressure on Coinbase, while a negative value suggests hig... Read the full article for FREE at COINOTAG!
