Bitcoin (BTC) turned negative for the first time since the Coinbase price premium Terra (LUNA) crash.
Founder and CEO of CryptoQuant, one of the largest data platforms Ki Young Ju Twitter made through in sharingHe noted that the Bitcoin Coinbase price premium has been negative again since the LUNA crisis.
The Bitcoin price premium of Coinbase, the US-based cryptocurrency exchange, which is generally preferred by institutional investors, turned negative, a short-term bearish sign seen as. Because this index is based on the selling pressure on Coinbase. Binance, OKX etc. shows that more than stock markets.
Considering that the investors using Coinbase are “institutional”, the price of Bitcoin will be experienced thanks to this index. Estimated selling pressure will increase is being done. Also, when this index is positive, it is interpreted as spot buying pressure and “institutional demand increasing” on Coinbase.
With the LUNA collapse $35,000 This time, Bitcoin, which broke the support level hard, $18,000 The fact that it has broken the support level hard attracts the attention of investors.
