Bitcoin Coinbase Premium Hits New Highs Will BTC Follow?
The Coinbase Bitcoin Premium Index reached its second-highest value, indicating a price premium for BTC on Coinbase compared to Binance, with sustained buying pressure from US investors. Positive spot ETF flows correlate with price increases, suggesting market optimism. Binance's retail inflow percentage has surged amid a Bitcoin price decline, with onchain metrics showing increased exchange inflows, particularly in smaller BTC amounts. This behavior may indicate trading intentions rather than passive accumulation. The Coinbase premium suggests strong buyer interest, potentially from institutional investors, while high Binance inflows may reflect retail profit-taking or panic selling. Bitcoin surged to $105,000 after a range low of $98,300, driven by short-covering rather than new bullish positions. A drop in open interest signals potential market exhaustion. For a bullish trend, sustained buying volume and open interest rebound are necessary. Conversely, a bearish outlook could arise if funding rates spike without open interest support, risking deeper corrections. Volatility remains high, with the potential for either a bull run or pullback.
