Bitcoin Erases $49,000 ETF Rally As Coinbase Users Take To Selling
Summary
Bitcoin surged towards $49,000 but retraced due to negative Coinbase Premium Gap. This gap indicates price differences between Coinbase and Binance. Positive gap suggests higher prices on Coinbase, driven by US institutional investors. The recent plunge into negative territory suggests profit harvesting by American institutional traders. BTC price is currently around $45,800.
