{"id":596403,"date":"2024-03-06T01:30:16","date_gmt":"2024-03-06T01:30:16","guid":{"rendered":"https:\/\/uniquehot.com\/?p=596403"},"modified":"2024-06-11T08:34:01","modified_gmt":"2024-06-11T08:34:01","slug":"institutionals-bitcoin-fomo-coinbase-premium","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/institutionals-bitcoin-fomo-coinbase-premium\/","title":{"rendered":"Bitcoin Sets New All-Time High Above $69,000 As Institutionals Show FOMO"},"content":{"rendered":"

Bitcoin has set a new all-time high (ATH) above the $69,000 level as institutional investors have aggressively bought on Coinbase.<\/p>\n

Bitcoin Has Set A New ATH Above $69,000<\/h2>\n

The moment that every Bitcoin investor had been looking forward to has finally arrived today. The cryptocurrency just smashed past the record set in November 2021 to create a brand new ATH beyond the $69,000 level.<\/p>\n

\"Bitcoin<\/p>\n

BTC sets a new ATH | Source: BTCUSD on TradingView<\/a><\/pre>\n
This historical moment has come for the asset as institutional investors have been showing some strong buying pressure recently.<\/p>\n
Bitcoin Coinbase Premium Index Spikes To Highest Levels For 2024<\/h2>\n
As an analyst in a CryptoQuant Quicktake post<\/a> explained, US institutional investors appear to be scrambling to buy Bitcoin as they are starting to feel FOMO with the sharp bullish momentum the cryptocurrency has enjoyed.<\/p>\n
The metric of interest here is the “Coinbase Premium Index<\/a>,” which keeps track of the percentage difference between the Bitcoin prices listed on cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair).<\/p>\n
Related Reading: Bitcoin Extreme Greed At Levels Higher Than Nov. 2021 Peak, Top Signal?<\/a><\/div>\n
The former exchange is the preferred platform for institutional traders based in the US, while the latter serves more global traffic. As such, the Coinbase Premium Index can provide hints about the differences in the buying and selling behaviors of the two groups.<\/p>\n
When the indicator has a positive value, the price listed on Coinbase is higher than on Binance. Such a trend implies that the buying pressure is higher (or selling pressure is lower) from the US-based investors compared to Binance users.<\/p>\n
On the other hand, the negative metric suggests that American institutional traders may be applying relatively high selling pressure on the market.<\/p>\n
Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Index over the past few months:<\/p>\n
\"Bitcoin<\/p>\n
The value of the metric appears to have been notably positive in recent days | Source: CryptoQuant<\/a><\/pre>\n
As displayed in the graph, the Bitcoin Coinbase Premium Index has registered a large positive spike recently, implying the difference between the prices on Coinbase and Binance has widened.<\/p>\n
The indicator had been floating inside the green territory for a while before this spike, and in this period of high buying pressure on Coinbase, the coin observed a sharp rally.<\/p>\n
This recent buying pressure would probably include sources like the spot exchange-traded funds (ETFs)<\/a> approved this year. From the chart, it’s visible that the buying pressure has been even higher in the last couple of weeks, culminating in the latest spike.<\/p>\n
Interest around the asset among these institutional entities had only been growing recently, but the latest spike suggests FOMO has gone up a level for these investors.<\/p>\n
Related Reading: Shiba Inu & Other Memecoins See 3,000% Spike In Volume: Good Sign For Rally?<\/a><\/div>\n
Given that institutional buying has been one of the main forces behind the latest rally in the cryptocurrency, it’s no wonder that its price has hit a fresh high off the back of the latest spike.<\/p>\n
Featured image from Jievani Weerasinghe on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has set a new all-time high (ATH) above the $69,000 level as institutional investors have aggressively bought on Coinbase. Bitcoin Has Set A New ATH Above $69,000 The moment that every Bitcoin investor had been looking forward to has finally arrived today. The cryptocurrency just smashed past the record set in November 2021 to create a brand new ATH beyond the $69,000 level. BTC sets a new ATH | Source: BTCUSD on TradingView This historical moment has come for the asset as institutional investors have been showing some strong buying pressure recently. Bitcoin Coinbase Premium Index Spikes To Highest Levels For 2024 As an analyst in a CryptoQuant Quicktake post explained, US institutional investors appear to be scrambling to buy Bitcoin as they are starting to feel FOMO with the sharp bullish momentum the cryptocurrency has enjoyed. The metric of interest here is the “Coinbase Premium Index,” which keeps track of the percentage difference between the Bitcoin prices listed on cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair). Related Reading: Bitcoin Extreme Greed At Levels Higher Than Nov. 2021 Peak, Top Signal? The former exchange is the preferred platform for institutional traders based in the US, while the latter serves more global traffic. As such, the Coinbase Premium Index can provide hints about the differences in the buying and selling behaviors of the two groups. When the indicator has a positive value, the price listed on Coinbase is higher than on Binance. Such a trend implies that the buying pressure is higher (or selling pressure is lower) from the US-based investors compared to Binance users. On the other hand, the negative metric suggests that American institutional traders may be applying relatively high selling pressure on the market. Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Index over the past few months: The value of the metric appears to have been notably positive in recent days | Source: CryptoQuant As displayed in the graph, the Bitcoin Coinbase Premium Index has registered a large positive spike recently, implying the difference between the prices on Coinbase and Binance has widened. The indicator had been floating inside the green territory for a while before this spike, and in this period of high buying pressure on Coinbase, the coin observed a sharp rally. This recent buying pressure would probably include sources like the spot exchange-traded funds (ETFs) approved this year. From the chart, it’s visible that the buying pressure has been even higher in the last couple of weeks, culminating in the latest spike. Interest around the asset among these institutional entities had only been growing recently, but the latest spike suggests FOMO has gone up a level for these investors. Related Reading: Shiba Inu & Other Memecoins See 3,000% Spike In Volume: Good Sign For Rally? Given that institutional buying has been one of the main forces behind the latest rally in the cryptocurrency, it’s no wonder that its price has hit a fresh high off the back of the latest spike. Featured image from Jievani Weerasinghe on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":596446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,5493,87373,90741,91784,89184,1119,1144,1393],"class_list":["post-596403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-buying","tag-bitcoin-coinbase-premium-index","tag-bitcoin-fomo","tag-bitcoin-institutional-buying","tag-bitcoin-institutional-investors","tag-btc","tag-btcusd","tag-coinbase"],"acf":[],"yoast_head":"\nBitcoin Sets New All-Time High Above $69,000 As Institutionals Show FOMO<\/title>\n<meta name=\"description\" content=\"Bitcoin has just set a new all-time high (ATH) above the $69,000 level as institutional 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Sets New All-Time High Above $69,000 As Institutionals Show FOMO","url":"http:\/\/uniquehot.com\/news\/institutionals-bitcoin-fomo-coinbase-premium\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/institutionals-bitcoin-fomo-coinbase-premium\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/jievani-weerasinghe-NHRM1u4GD_A-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/jievani-weerasinghe-NHRM1u4GD_A-unsplash.jpg?fit=5028%2C3084"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin buying","bitcoin coinbase premium index","bitcoin fomo","bitcoin institutional buying","bitcoin institutional investors","btc","btcusd","coinbase"],"dateCreated":"2024-03-06T01:30:16Z","datePublished":"2024-03-06T01:30:16Z","dateModified":"2024-06-11T08:34:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Sets New All-Time High Above $69,000 As Institutionals Show FOMO\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/institutionals-bitcoin-fomo-coinbase-premium\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/institutionals-bitcoin-fomo-coinbase-premium\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/jievani-weerasinghe-NHRM1u4GD_A-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/jievani-weerasinghe-NHRM1u4GD_A-unsplash.jpg?fit=5028%2C3084\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin buying\",\"bitcoin coinbase premium index\",\"bitcoin fomo\",\"bitcoin institutional buying\",\"bitcoin institutional investors\",\"btc\",\"btcusd\",\"coinbase\"],\"dateCreated\":\"2024-03-06T01:30:16Z\",\"datePublished\":\"2024-03-06T01:30:16Z\",\"dateModified\":\"2024-06-11T08:34:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/jievani-weerasinghe-NHRM1u4GD_A-unsplash.jpg?fit=5028%2C3084","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/596403"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=596403"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/596403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/596446"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=596403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=596403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=596403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}