Bitcoin (BTC) made a name for himself with his predictions and the data he shared about Ki Young Ju, CEO and analyst of CryptoQuant, He made a new post about BTC.
before too Coinbase Premium Index Ki Young Ju, who viewed BTC stated that the price premium has recovered.
“The Coinbase Bitcoin price premium appears to be recovering.” said, Ju also added a chart about the Bitcoin premium in the Coinbase Index to his share.
Coinbase $BTC price premium seems to be recovering.https://t.co/Xkoohe4Ozc https://t.co/ZEorApSlTT pic.twitter.com/SDEIn1IkPz
— Ki Young Ju (@ki_young_ju) July 8, 2022
What is the Coinbase Premium Index?
Coinbase Premium Index on Coinbase Pro bitcoin It is a tool used to determine the difference between its price and exchanges such as Binance.
The premium of the index reflects whether institutional investors are actively selling or buying in the spot market.
The increase in the premium in the index indicates that institutional investors actively enter the market and BTC It is interpreted as a sign that you have begun to receive.
Coinbase Premium, on the other hand, is mostly used by large crypto investors.
The increase in premiums in the index bitcoin and cryptocurrency It is seen as a sign of increased purchasing power and that whales are accumulating.
With the increase in buying volume in the crypto market, the premium in the index is getting higher.
Ju, who previously reviewed the Coinbase Premium Index, said that the index closed in a positive number as of June 30, and the indicator turned positive for the first time since the market sell-off in April 2022.
This means that institutional investors are no longer actively selling, but large amounts of spot BTC He stated that this purchase means that these purchases push the index into the premium range.