US Bitcoin Investors Hold the Bottom and Top: This Is Why ATH Couldn't Come!
Ki Young Ju, CEO of on-chain analysis platform CryptoQuant, examined the impact of US investors on the price of Bitcoin.
Ki Young Ju, CEO of CryptoQuant, focused on the data called Coinbase premium, which shows the orientation of US Bitcoin investors.
Pointing to the fluctuations in Bitcoin since March, analysts stated that the Coinbase premium varied between $ 53,000 and $ 72,000, but was stuck in this range at the end of the day.
It was stated that the Coinbase premium was bought at $ 72,000 and sold at $ 53,000, and that Bitcoin's new peak was prevented due to the sales in global stock markets.
Bitcoin has shown great fluctuations since March. The Coinbase premium showed a big difference between $53,000 and $72,000, with whales buying at $72,000 and selling at $53,000. Meanwhile, whales on global exchanges prevented an ATH breakout and defended $53,000. I think a premium close to zero could act as support/resistance.
Stay tuned for new information.
