CandleFocus Coinbase Premium Skyrockets as Bitcoin Dips to $97,000: Reason
2024-12-10
Author: Content Editor
Bitcoin's price experienced a significant decline in the crypto market, but the Coinbase Premium, which measures the difference in Bitcoin prices between Coinbase Pro and Binance, saw a surge. This suggests increased buying demand from U.S. investors and indicates that when panic-selling occurs on Binance, U.S. institutional investors tend to engage in aggressive buying strategies. The broader crypto market also saw a decrease, with over $200 billion in losses in the last 24 hours. Additionally, over $1.6 billion in cryptocurrency positions were liquidated, indicating the unraveling of leveraged bets. Despite the market downturn, the Coinbase Premium's rebound may signify a potential market recovery.
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