Bitcoin whales sent BTC price to $64K as Coinbase Premium broke key level: CryptoQuant
Bitcoin’s rebound toward $64,000 is being linked to renewed demand shifts, especially from U.S.-based whales. CryptoQuant says the Coinbase Premium Index for BTC and ETH remains negative, but both have bounced from local lows and reclaimed their 14-day moving averages, suggesting early buy-side strength. The firm sees this as the main driver behind Bitcoin’s rise from $58,000 and Ethereum’s move from $1,500 to $1,750, though a lasting trend change would require the premium to turn positive. Institutional signals are also improving. After a long streak of ETF outflows, U.S. spot Bitcoin ETFs recorded fresh inflows, though sentiment remains fragile and outflows resumed soon after. Bitcoin Suisse says several indicators now point to a possible market bottom, describing a “bottom signal framework flashing” even as the Fear & Greed Index remains at an extreme level.
