Bitcoin surges past $100K, driven by strong U.S. investor demand on Coinbase.
Coinbase Premium Index reveals bullish trends but hints at short-term dips ahead.
Market capitalization rises as Bitcoin’s trading volume grows, signaling increased interest.
Bitcoin crossed the $100,000 milestone, drawing attention from investors globally. The cryptocurrency recorded a 1.65% gain, pushing its price to $100,894.81 with a market capitalization of $1.99 trillion.
This upward movement highlights the influence of the Coinbase Premium Index, a critical metric reflecting U.S. investor demand. The index shows how market behavior impacts Bitcoin’s trajectory and could point to further price increases.
Coinbase Premium Index: A Key Market Signal
In November 2024, when the Coinbase Premium Index turned positive, Bitcoin surged from $69,000 to $108,000. This trend signaled increasing interest from U.S.-based investors using Coinbase.
3 days ago, Coinbase Premium Index crossed SMA14 for the 1st time in 26 days—Bitcoin is now up 4% to $102K.
In Nov 2024, a similar move saw Bitcoin rally from $69K to $108K.
U.S. buyers could be back in action. pic.twitter.com/XtAl…
The post Coinbase Premium Reveals Key Insights as Bitcoin Hits $100K appeared first on Coin Edition.
