The post Coinbase Whales Impact Bitcoin Price: CryptoQuant CEO appeared on BitcoinEthereumNews.com.

Coinbase whale activity drives Bitcoin price movements, with 30% spot volume dominance surge. Bitcoin’s price fluctuates between $95K and $88.9K, reflecting market volatility. Market reactions to Bitcoin’s dip: Eric Trump and Michael Saylor see it as a buying opportunity. Bitcoin being the marquee coin for crypto as a whole, is watched closely for its latest price swings but with a spike in its trading volume. Ki Young Ju, the CEO of CryptoQuant, contests that big players on Coinbase “whales,” are the ones affecting Bitcoin’s price Coinbase Spot Volume Surges as Bitcoin Wobbles Over the past week, trading of Bitcoin on Coinbase surged by more than 30%, reflecting a rise in Bitcoin trading on the platform. This along with the overall market ups and downs, led to Bitcoin’s price dipping by 3.58% in the last day, landing around $88,700. Source: X Coinbase Premium Index: Another Price Indicator Besides the spike in trading volume, the Coinbase Premium Index gives more info on Bitcoin’s price changes.  Related: Bitcoin Bull Run Cycle? Chart Points to Next Phase for BTC with Price Analysis This index looks at Bitcoin’s price compared to the spot market price on Coinbase. It’s been pretty jumpy these past few weeks. Just recently, on February 24, Bitcoin’s price went from $95,000 down to $88,900. Bitcoin’s Cost Basis: Different Groups, Different Prices Looking deeper, on February 19, 2025, Ki Young Ju shared more details into Bitcoin’s cost basis across various market cohorts.  According to his analysis, ETFs and custody wallets bought in at an average price of $89K. Binance traders, on the other hand, got their Bitcoin at a much cheaper price of $59K. Digging even further, mining companies and long-term whales own Bitcoin that they bought at even lower prices. Old whales, for example, are holding BTC that they picked up…

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Filed under: News - @ February 26, 2025 8:21 am