Monday, June 14, 2021
JAY TALKS CRYPTO
No Result
View All Result
  • Home
  • Bitcoin
    • Bitcoin Live
    • Non Gamstop Casino
  • Ethereum
  • Cryptocurrency
    • Cryptocurrency live
  • Altcoins
    • Altcoins Daily
  • Cardano
    • Cardano Price Prediction
  • XLM Live
    • XLM
  • XRP
  • Litecoins
  • Dogecoin
  • More
    • Coingecko
    • Coin Bureau
  • Videos
JAY TALKS CRYPTO
No Result
View All Result
Home Bitcoin

Amid Massive Bitcoin Bull Run, Data Reveals Serious Coinbase Price Warning

admin by admin
March 8, 2021
in Bitcoin
0
Amid Massive Bitcoin Bull Run, Data Reveals Serious Coinbase Price Warning
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Bitcoin, after roaring into 2021, has now plateaued at around $50,000 per bitcoin, with the price more-or-less treading water over the past week.

The bitcoin price, up almost 500% since this time last year, has exploded higher amid a combination of Wall Street institutional adoption, corporate interest, and retail traders piling into the market—and some think it could have a lot further to run.

Now, recent market data has shown the bitcoin price gap between crypto exchanges Coinbase and Binance, known as the Coinbase premium, could serve as a bellwether for institutional investors or high net-worth individuals buying bitcoin, with traders warned to avoid Coinbase if the premium is high.

MORE FROM FORBESBitcoin Still ‘Early’ Despite Huge 500% Price Rally-$28 Billion Asset ManagerBy Billy Bambrough

bitcoin, bitcoin price, Coinbase, image

The bitcoin price has soared over the last few months, climbing to almost $60,000 per bitcoin.

SOPA Images/LightRocket via Getty Images

“A significantly high Coinbase premium is a bullish signal,” says Ki Young Ju, the chief executive of bitcoin and cryptocurrency market data provider CryptoQuant, speaking via Twitter DM. “It indicates Coinbase whales who might be institutional investors or high net-worth individuals are buying bitcoin.”

While a high Coinbase premium could be a bullish signal, it may not be good for bitcoin traders on the platform, which is gearing up for a hotly-anticipated blockbuster stock market debut in coming months. Last week, the San Francisco-based Coinbase revealed the possible events it fears could destabilize the price of bitcoin and ethereum, potentially undermining its business.

Related articles

Bitcoin sell pressure may hit zero in July thanks to Grayscale’s giant 16K BTC unlocking

Bitcoin sell pressure may hit zero in July thanks to Grayscale’s giant 16K BTC unlocking

June 14, 2021
Bitcoin, NFTs the Top Assets for Millennial Millionaires: Survey

Bitcoin, NFTs the Top Assets for Millennial Millionaires: Survey

June 14, 2021

“The Coinbase premium varies from time to time, but if there’s too much premium, pro-traders should avoid using Coinbase, I would say,” Ki Young Ju says, adding traders should watch for the premium spiking to negative, indicating the bitcoin price “is likely to go down as Coinbase whales are selling bitcoin.”

Last month, as Elon Musk’s Tesla drove a bitcoin institutional bull run with its $1.5 billion bitcoin bet, the Coinbase premium climbed to over $100, according to Ki Young Ju.

Coinbase, with over 40 million users, is one of the world’s largest bitcoin and cryptocurrency exchanges and is generally regarded as a cryptocurrency “on ramp” for those new to crypto. Coinbase’s institutional trading desk handled Tesla’s $1.5 billion bitcoin investment earlier this month, according to media reports that added Coinbase’s prime brokerage arm counts more than five Fortune 500 companies as clients.

MORE FROM FORBESTesla Stock Price Tanks 30% Since Buying Bitcoin-Could Netflix Or Apple Really Follow?By Billy Bambrough

bitcoin, bitcoin price, Coinbase, chart

The gap between bitcoin prices on Coinbase and Binance, known as the Coinbase premium, is thought to … [+] be higher when there’s increased buying pressure on Coinbase.

CryptoQuant

The Coinbase premium has existed for some time, with long-time traders using it gauge the strength of market.

“Look at the Coinbase premium between October 2020 and November 2020 and in May 2019, you’ll see how strong bull markets are at first resisted by derivatives players before they all flip and join the ‘up only’ party,” says crypto trader and economist Alex Kruger, speaking via Telegram.



Source link

Tags: BitcoinBullCoinbasedataMassivePriceRevealsRunWarning
Share76Tweet47

Related Posts

Bitcoin sell pressure may hit zero in July thanks to Grayscale’s giant 16K BTC unlocking

Bitcoin sell pressure may hit zero in July thanks to Grayscale’s giant 16K BTC unlocking

by admin
June 14, 2021
0

Institutional Bitcoin (BTC) investors are in the spotlight as an upcoming major cashout date sparks talk of fresh price...

Bitcoin, NFTs the Top Assets for Millennial Millionaires: Survey

Bitcoin, NFTs the Top Assets for Millennial Millionaires: Survey

by admin
June 14, 2021
0

Almost half of the millennial millionaires have at least one-fourth of their wealth in cryptocurrencies, a new survey shows....

Tanzanian president urges central bank to prepare for crypto

Tanzanian president urges central bank to prepare for crypto

by admin
June 14, 2021
0

Tanzania appears to be the latest emerging economy poised to embrace Bitcoin and crypto assets.On June 14, Tanzanian president...

Bitcoin rises 9.8% to $39,035

Bitcoin rises 9.8% to $39,035

by admin
June 14, 2021
0

Representations of cryptocurrency Bitcoin are seen in this picture illustration taken June 7, 2021. REUTERS/Edgar Su/Illustration/File PhotoBitcoin surged 9.8%...

BTC, AAVE, KSM, ALGO, TFUEL

BTC, AAVE, KSM, ALGO, TFUEL

by admin
June 13, 2021
0

Bitcoin’s (BTC) price continues to be range-bound between $30,000 and $40,000 level for the past few days, which is...

Load More
  • Trending
  • Comments
  • Latest
2021 Coinbase Debit Card Review • Pros, Cons & More • Benzinga

2021 Coinbase Debit Card Review • Pros, Cons & More • Benzinga

April 14, 2021
MASSIVE NEWS Hokkaido inu Exchange news+ More! 1000x gem! If you missed shiba inu dont miss this!

MASSIVE NEWS Hokkaido inu Exchange news+ More! 1000x gem! If you missed shiba inu dont miss this!

May 12, 2021
Kishu Inu Mega pump! We called it first! Kishu inu Pump update+ Discord updates!

Kishu Inu Mega pump! We called it first! Kishu inu Pump update+ Discord updates!

May 15, 2021
Shiba Inu coin 1000x Exchange+massive news+ Shib Price Prediction!

Shiba Inu coin 1000x Exchange+massive news+ Shib Price Prediction!

May 11, 2021
Litecoin Exchange Market Global Demand, Research and Top Leading Player to 2027 Covid-19 Analysis – The Courier

Litecoin Exchange Market Global Demand, Research and Top Leading Player to 2027 Covid-19 Analysis – The Courier

0
Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

0
Risky business

Risky business

0
Cardano Price Analysis: 07 March

Cardano Price Analysis: 07 March

0
Litecoin Exchange Market Global Demand, Research and Top Leading Player to 2027 Covid-19 Analysis – The Courier

Litecoin Exchange Market Global Demand, Research and Top Leading Player to 2027 Covid-19 Analysis – The Courier

June 14, 2021
Gold opens up to new highs but resistance awaits

Gold opens up to new highs but resistance awaits

June 14, 2021
XRP Price Analysis: 14 June

XRP Price Analysis: 14 June

June 14, 2021
Polygon Coin Could Remain a Winner After the Crypto Sell Off

MATIC May Prove Itself One of the Most Useful Altcoins

June 14, 2021

Recent News

Litecoin Exchange Market Global Demand, Research and Top Leading Player to 2027 Covid-19 Analysis – The Courier

Litecoin Exchange Market Global Demand, Research and Top Leading Player to 2027 Covid-19 Analysis – The Courier

June 14, 2021
Gold opens up to new highs but resistance awaits

Gold opens up to new highs but resistance awaits

June 14, 2021

Categories

  • Altcoins
  • Altcoins Daily
  • Bitcoin
  • Bitcoin Live
  • Cardano
  • Cardano Price Prediction
  • Coin Bureau
  • Coingecko
  • Cryptocurrency
  • Cryptocurrency live
  • Dogecoin
  • Ethereum
  • Litecoins
  • Videos
  • XLM
  • XLM Live
  • XRP

Follow Us

Calculator

 
  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Jay Talks Crypto  

No Result
View All Result
  • Home
  • Bitcoin
    • Bitcoin Live
  • Ethereum
  • Cryptocurrency
    • Cryptocurrency live
  • Altcoins
    • Altcoins Daily
  • Cardano
    • Cardano Price Prediction
  • XLM Live
    • XLM
  • XRP
  • Litecoins
  • Dogecoin
  • More
    • Coingecko
    • Coin Bureau
  • Videos

© 2021 Jay Talks Crypto