Coinbase Premium Index has turned positive after returning negative values for about ten days, pseudonymous CryptoQuant analyst BQYoutube has found in a newThis metric measures the difference between BTC’s prices on Coinbase and Binance. When its value is positive, it suggests that the coin is priced higher on Coinbase compared to Binance. It is interpreted to mean strong buying interest from US-based investors.
Conversely, when it declines, and its value is negative, it signals less trading activity on the US-based exchange.Confirming the resurgence in activity from US-based BTC holders, BTC’s Coinbase Premium Gap was 4.48 at press time.Although BTC’s Korean Premium Index has trended downward since 15th April, it remains above the zero line. Also referred to as the Kimchi Premium, this index measures the gap between BTC prices on South Korean exchanges and other exchanges.At 0.
However, despite BTC’s recent price rally, negative sentiment trails the coin. At press time, its weighted sentiment was -0.355. In fact, the value of this metric has been negative since 24th May.This indicates that despite its price rally in the past few weeks, there is still a bearish bias toward the leading coin among market participants.
AMBCrypto assessed the daily ratio of BTC transaction volume in profit to loss moving average and returned a value of 1.8.This showed that for every BTC transaction that ended in a loss in the past few weeks, 1.8 transactions have returned a profit.Abiodun is a full-time journalist working with AMBCrypto. He is also a lawyer with over 2 years of experience.
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