Bitcoin Coinbase premium returns — Is $90K BTC price in the cards?
The post Bitcoin Coinbase premium returns — Is $90K BTC price in the cards? appeared on BitcoinEthereumNews.com.
The Bitcoin (BTC) Coinbase premium index reached its highest level since Feb. 20 after BTC prices rallied 5% on March 19. Bitcoin’s Coinbase premium index. Source: CryptoQuant Return of Coinbase premium highlights Bitcoin accumulation The Coinbase premium index measures the price difference between Coinbase and Binance prices for BTC pairs, where a higher value signals US investors dictating stronger buying pressure. The index gauges US retail interest, but Woonminkyu, a verified analyst on CryptoQuant, said that it may also signal strong accumulation from US institutions and whales. Coinbase premium analysis by Woominkyu. Source: CryptoQuant The analyst explained that the 30-day EMA of the index crossed the 100-day EMA level, which implies the presence of large players. The analyst added, “Past trends show that when this indicator rises, BTC bull markets tend to continue. High likelihood of an accumulation phase, making it a key moment to monitor BTC’s momentum.” Coinbase Pro was integrated into Coinbase Advanced (a platform used by companies like Strategy and Tesla for BTC purchases) in early 2024. Therefore, it is plausible that the Coinbase premium also represents US institutional interest to a certain extent. Related: $77K likely the Bitcoin bottom as QT is ‘effectively dead’ — Analysts Can Bitcoin reclaim $90K in March? One of the major positives observed on BTC’s 1-day chart is the bullish reclaim on the 200-day exponential moving average (orange line). When prices remain above the 200-day EMA level, the probability of an uptrend increases for BTC to form higher highs in the chart. Bitcoin 1-day chart. Source: Cointelegraph/TradingView After a successful breakout above $85,000 resistance, turning the level into support further improves the possibility of a $90,000 retest. On the daily chart, Bitcoin price also bounced from the lower range of the Bollinger Bands (BB), with the metric’s moving average remaining above…
Filed under: News - @ March 21, 2025 11:26 am