Coinbase Bitcoin (BTC) Premium Index Has Turned Positive Institutional Investor Demand
— Index, Demand, Crypto, Cryptocurrency, Bitcoin, Price, Turned, Coinbase, Market, Premium — 1 min read
Bitcoin (BTC) price premium has risen to near the 0.075 mark, marking its second move into positive territory after briefly spiking to 0.217 on June 30, before slipping back into the negative territory. CEO of cryptocurrency analytics firm CryptoQuant Ki-Young Ju has confirmed through a tweet that this buying pressure on the exchange is heating up. The premium index has recovered at a time when the flagship cryptocurrency has been recovering and briefly traded above $22,000, up from an $18,500 low seen last month. Within the second quarter of the year, Bitcoin posted its worst quarterly performance in more than a decade as it misplaced up to 58% of its worth thereby going from $45,524 to only slide beneath $19,000. Source