CandleFocus

Coinbase Premium Hints at Confidence Amid Bitcoin (BTC) Volatility

The Coinbase Premium metric, which tracks the price difference of Bitcoin between Coinbase Pro and Binance, has shown significant differences at $53,000 and $72,000. Whales bought Bitcoin at the upper range and sold it at $53,000, establishing it as a key support level. The CryptoQuant founder suggests that a near-zero premium could act as a support or resistance level. The price of Bitcoin has returned to $60,800 after a dip and there is mixed sentiment regarding its future, with some predicting a potential slip back to the $58,000 range. However, Bitcoin has shown resilience during uncertain times in the past.

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