Bitcoin Blasts Off As Institutionals Continue Buying On Coinbase
Summary
Bitcoin surged over 4% in the last 24 hours, reaching above $47,300 before pulling back to $46,500. This rally coincides with the approaching US SEC deadline for a decision on BTC spot ETFs, leading to expectations of approval and increased buying activity. The Bitcoin Coinbase Premium Gap has been positive for over a week, indicating greater buying pressure on Coinbase compared to Binance, possibly driven by large institutional traders. Large holders have accumulated over 14k BTC as prices dipped below $43k.
