Summary of Bitcoin analysis sees BTC price gains on Coinbase premium golden cross
Summary of Bitcoin analysis sees BTC price gains on Coinbase premium golden cross
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The source article:
Bitcoin's recent downturn could be alleviated by strong demand in the US market, according to an analysis by CryptoQuant. The analysis suggests that the Coinbase premium metric, which measures the difference in pricing between Coinbase and Binance, is correlated with specific BTC price behavior. A 'golden cross' scenario, where the daily moving average crosses above the weekly moving average with strong momentum, has historically been followed by significant price movements. Despite a recent price correction, demand from US-based investors remains strong, suggesting a potential short-term recovery in Bitcoin's price.
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The source article:
quoting nevent1q…fsn5Bitcoin analysis sees BTC price gains on Coinbase premium golden cross
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Bitcoin demand in the US is "strong," but can the Coinbase premium save BTC price action from further downside?
https://cointelegraph.com/news/bitcoin-analysis-btc-price-gains-coinbase-premium-golden-cross
Bitcoin's recent downturn could be alleviated by strong demand in the US market, according to an analysis by CryptoQuant. The analysis suggests that the Coinbase premium metric, which measures the difference in pricing between Coinbase and Binance, is correlated with specific BTC price behavior. A 'golden cross' scenario, where the daily moving average crosses above the weekly moving average with strong momentum, has historically been followed by significant price movements. Despite a recent price correction, demand from US-based investors remains strong, suggesting a potential short-term recovery in Bitcoin's price.