• News
    • Bitcoin
    • Altcoins
  • Blockchain
  • NFT
  • Metaverse
  • Regulation
  • Learn
  • Market Cap
What's Hot

Charting Bitcoin and Ethereum’s path in the new bull market 

2023-10-02

Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

2023-10-02

Bitcoin jumps above $28k for the first time since August 2023

2023-10-02
Facebook Twitter Instagram
Top Coin Spot
  • News
    • Bitcoin
    • Altcoins
  • Blockchain

    peaq & Fetch.ai Unveil Multi-Chain IDs for Vehicles & Devices on Polkadot-Cosmos Ecosystems

    2023-06-13

    Taiwan Mobile Considers Partnerships with Local Cryptocurrency Platforms

    2023-06-13

    Biconomy Collaborates with SPACE ID to Support Withdrawals to Domain Names .arb and .bnb

    2023-06-13

    BNB Chain Deploys BEP-126 Update to Enhance Security and Reliability

    2023-06-13

    PawChain Sets to Revolutionize Blockchain Utilities

    2023-06-12
  • NFT

    Animoca Brands to Create Web3 Digital ID System

    2023-09-12

    Generative AI Could Make Government Mechanism Less Annoying

    2023-09-12

    Hundreds of Nouns Holders Rally to Exit DAO, Leading to Treasury Split

    2023-09-11

    Exploring Communion In Collaboration with AI

    2023-09-09

    Christie’s Honors Keith Haring at The Gateway: Korea

    2023-09-09
  • Metaverse

    Mark Zuckerberg’s Vision for Remote Work: Meta’s Headsets and the Future of Work

    2023-10-01

    Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

    2023-09-29

    Valentino Rossi Steps into The Sandbox with ValeVerse

    2023-09-27

    Opportunities for Artists and Creators at Decentraland Music Festival 2023

    2023-09-26

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25
  • Regulation
  • Learn

    What Is Toncoin (TON)? Everything You Need To Know

    2023-09-28

    Who Is Satoshi Nakamoto? Mysterious Bitcoin Founder

    2023-09-25

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18
  • Market Cap
Top Coin Spot
Home»Bitcoin»This Indicator Hints US Investors Sold Bitcoin Harder Than Others During Crash
Bitcoin

This Indicator Hints US Investors Sold Bitcoin Harder Than Others During Crash

2022-11-15No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The Bitcoin Coinbase Premium Index suggests US traders have been promoting extra closely than others in the course of the newest crash within the crypto.

Bitcoin Coinbase Premium Index Has Turned Deep Crimson Not too long ago

As identified by an analyst in a CryptoQuant post, whales on Coinbase Professional appear to have been behind the newest dump.

The “Coinbase Premium Index” is an indicator that measures the proportion distinction between the Bitcoin value listed on Coinbase Professional (USD Pair) and the one listed on Binance (USDT pair).

Coinbase Professional is popularly identified for use by traders based mostly within the US (particularly giant institutionals), whereas Binance will get a extra international visitors.

Due to this fact, the worth gaps listed on these two crypto exchanges can trace at which traders are promoting or shopping for extra.

When the metric has a optimistic worth, it means the worth of BTC on Coinbase is larger than on Binance proper now, suggesting that US traders have offered extra shopping for stress not too long ago.

Then again, unfavourable values of the premium counsel American holders are dumping greater than international traders in the intervening time.

Now, here’s a chart that exhibits the pattern within the Bitcoin Coinbase Premium Index over the previous yr:

Bitcoin Coinbase Premium Index

The worth of the metric appears to have been purple in current days | Supply: CryptoQuant

As you may see within the above graph, the Bitcoin Coinbase Premium Index has plunged into unfavourable values not too long ago together with the crash.

Which means that US traders have been dumping extra aggressively than traders from the remainder of the world prior to now week.

See also  A look at long-term holders show Bitcoin is here to stay

Additionally, as is clearly seen within the chart, the same pattern was additionally seen again in early Might, when BTC’s value crashed from $40k to $30k.

The quant notes that whereas Coinbase noticed this promoting, the Bitcoin Korea Premium Index confirmed an fascinating conduct. The under chart highlights this pattern.

Bitcoin Korea Premium Index

Seems like this metric had a inexperienced worth not too long ago | Supply: CryptoQuant

The Korea Premium Index measures the hole between the costs listed on South Korean crypto exchanges, and that on different exchanges.

From the graph, it’s obvious that in each the present crash in addition to the one in Might, the indicator confirmed optimistic spikes.

This means that whereas the US traders have been dumping, the Korean traders have been specializing in “shopping for the dip.”

BTC Value

On the time of writing, Bitcoin’s value floats round $16.8k, down 15% within the final week. Over the previous month, the crypto has shed 11% in worth.

Bitcoin Price Chart

BTC has been caught in consolidation below $17k in the previous few days | Supply: BTCUSD on TradingView
Featured picture from Unsplash.com, charts from TradingView.com, CryptoQuant.com

Source link

Bitcoin Crash Harder Hints Indicator investors sold
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Charting Bitcoin and Ethereum’s path in the new bull market 

2023-10-02

Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

2023-10-02

Bitcoin jumps above $28k for the first time since August 2023

2023-10-02

Bitcoin Price Skyrockets Past $28,000, Here’s Why

2023-10-02
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Crypto Issuance Startup Tokensoft Brings Its Token Launchpad On-Chain

2023-01-31

Blocktrace Builds AI Chatbot to Simplify Blockchain Transaction Tracking

2023-03-29

The worst influencer and celebrity NFT cash grabs of 2022

2023-01-04

Subscribe to Updates

Get the latest news and Update from Top Coin Sports about Crypto, Metaverse, NFT and more.

About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest YouTube
Top Insights

Charting Bitcoin and Ethereum’s path in the new bull market 

2023-10-02

Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

2023-10-02

Bitcoin jumps above $28k for the first time since August 2023

2023-10-02
Get Informed

Subscribe to Updates

Get the latest news and Update from Top Coin Sports about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Topcoinspots.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$28,059.003.57%
  • ethereumEthereum(ETH)$1,689.890.90%
  • USDEXUSDEX(USDEX)$1.080.18%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$216.451.30%
  • rippleXRP(XRP)$0.520.97%
  • usd-coinUSDC(USDC)$1.00-0.08%
  • staked-etherLido Staked Ether(STETH)$1,689.180.78%
  • solanaSolana(SOL)$23.785.19%
  • cardanoCardano(ADA)$0.2642161.95%