The post Institutions Driving Bitcoin As Coinbase Premium Gap Hits $100 – Trump Win Brought Back US Demand appeared on BitcoinEthereumNews.com.

Bitcoin has surged to new all-time highs, reaching $76,500, following Donald Trump’s victory in the US elections. This price breakout has reignited investor optimism, particularly among US traders, with demand increasing significantly since the election results. Trump’s pro-crypto stance has played a key role in boosting market sentiment, especially among institutional investors. Data from CryptoQuant reveals a notable surge in institutional demand, especially from US-based investors, which has recently propelled BTC’s price. The Coinbase Premium Index, a critical metric that tracks the difference between BTC’s price on Coinbase and other exchanges, turned positive for the first time since October 18th, signaling a shift in market dynamics and the return of strong buying interest in the US market. This surge in demand suggests that Bitcoin’s bullish momentum may only be beginning, with analysts expecting continued upward pressure. As US institutional investors continue to enter the market, BTC’s path to higher prices looks increasingly probable. The coming weeks will be pivotal as market participants await further developments, including the Federal Reserve’s decision on interest rates, which could impact BTC’s next moves. Bitcoin Aggressive Buying On Coinbase Bitcoin is entering a bullish phase following the election of Donald Trump as the new US president, a development that has reignited optimism among pro-crypto investors. In recent days, the price has surged above previous all-time highs, driven by aggressive demand from US-based players. Trump’s stance on cryptocurrency, which has been favorable, has played a significant role in fueling this new wave of buying pressure. Crucial data from CryptoQuant analyst Maartunn supports this bullish outlook. Maartunn highlighted that the Coinbase Premium Gap reached above $100 yesterday, a clear sign of heightened demand in the US market. Bitcoin Coinbase Premium Gap Hits $100 | Source: Maartunn on X The Coinbase Premium Gap is the price difference between…

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Filed under: News - @ November 8, 2024 8:24 am