CryptoQuant: “US Corporate Whales Are Preparing for SEC’s Spot Bitcoin ETF Decision! BTC Purchases Increased!”

From the SEC for a long time spot Bitcoin ETF While waiting for him to announce his decision Techcrunch reporter Jacquelyn Melineksaid that the SEC will approve ETF applications of more than one company and pointed to today.

At this point, while investors and the market are focused on today for the spot BTC ETF, institutional investors are intensely focused on the decision. BTC It seems to accumulate.

CryptoQuant analyst Maartunnsaid that there was activity in Coinbase, the largest cryptocurrency exchange in the USA.

In this context, the analyst points out that there is a difference between the BTC price in Binance and Coinbase and indicates this difference. Coinbase Premium Gap index He said it has been trading at a consistently high level since the beginning of 2024.

The analyst stated that high levels in the Coinbase Premium Gap index indicate a strong purchase. He argued that US institutional investors may be accumulating BTC.

“Something important is happening at Coinbase.

Because the Coinbase Premium Gap, an indicator that highlights the disparity between Bitcoin prices on Binance and Coinbase, has been trading at a consistently high level since the beginning of the new year.

While this is considered an indicator of strong buying activity, it may be a sign that US institutional investors are accumulating BTC ahead of the ETF decision.

Because it is known that Coinbase is a preferred platform for US institutional investors.”

The analyst finally stated that the world’s largest institutional Bitcoin owner MicroStrategy Referring to its recent BTC purchase, he noted that MicroStrategy also continues to accumulate BTC amid the excitement over the approval of the spot Bitcoin ETF.

Bitcoin while writing Binance at $43,822 on the stock exchange coinbase It continues to be traded on the stock exchange at $ 43,855.

*This is not investment advice.