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Business News

CryptoQuant CEO: Institutional bullish buying pushes the Coinbase premium index to positive for the first time

CryptoQuant CEO and analyst Ki Young Ju said in a post that the Coinbase Premium Index closed at a positive number yesterday, which is the first time the index has turned positive since the market sold off in April this year. This means that institutional traders no longer actively sell, but instead buy a large amount of spot BTC, pushing the index into a premium range.

The Coinbase Premium Index is a tool used to determine the difference between the price of Bitcoin on Coinbase Pro and exchanges such as Binance.

The premium or discount of an index reflects whether institutional investors are actively selling or buying spot assets, which is a direct indicator of market sentiment.

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