9h00 ▪
3
min reading ▪ by
Ariel R.
A barometer of American demand for Bitcoin, the Coinbase Premium Index has just returned to positive territory. This signals growing interest from US investors. This dynamic comes as the price of BTC exceeds $100,000 again, a few days before Donald Trump’s inauguration.
The return to green of the Coinbase Premium Index: a strong signal for the American market
After weeks spent in the red, the Coinbase Premium Index has finally regained color. This key indicator compares the price of Bitcoin on Coinbase (BTC/USD pair) to that of Binance (BTC/USDT pair). It directly reflects the appetite of American investors for the first cryptocurrency. Concretely, a positive premium (like the one observed recently) means an increased willingness to buy BTC in the United States. Which marks a notable turning point in the market.
According to CryptoQuant, this resurgence coincides with the approach of Trump’s inauguration. This indeed fuels speculation about potential pro-crypto policies. Burak Kesmeci, analyst at CryptoQuant, said:
“The Coinbase Premium Index (CPI) signals a buyer-dominated market as Trump prepares to take office.”
This return to positive territory had not been observed since January 6, testifying to a real transformation of market sentiment.
Growing American demand that boosts Bitcoin
The return of the Coinbase Premium Index to green is accompanied by a significant rebound in the price of Bitcoin. Concretely, this phenomenon underlines the preponderant role of American investors in the recovery of the digital asset. Liquidations of short positions also show the impact of this sudden craze. According to CoinGlass, they are estimated at $60 million over 24 hours,
With a Trump administration seen as potentially favorable to cryptocurrencies, markets are anticipating a new bullish phase for Bitcoin and altcoins. Rumors even mention pro-crypto announcements from the first days of office. Enough to consolidate demand and further support the Coinbase premium!
-The return to green of the Coinbase Premium Index thus constitutes a strong signal of the renewed interest of American investors in Bitcoin. It remains to be seen whether this dynamic will continue to support the price of the flagship crypto in the weeks to come!
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Ariel R.
My name is Ariela and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago. But it’s a universe that interests me a lot. And the topics covered within the platform allow me to learn more. A singer in my spare time, I also have a great passion for music and reading (and animals!)
DISCLAIMER
The comments and opinions expressed in this article are those of the author alone, and should not be considered investment advice. Do your own research before making any investment decisions.
