A recent analysis by CryptoQuant analyst 'Avocado Onchain' reveals a significant shift in Bitcoin market dynamics. The Coinbase Premium, which measures the price difference between Bitcoin on Coinbase and Binance, has turned negative. This indicates stronger buying pressure on Binance compared to Coinbase, signaling divergent market activity.
Key Market Insights
- Negative Coinbase Premium: Bitcoin's price is lower on Coinbase than Binance, suggesting reduced US buying activity.
- Global Buying Pressure: Binance, catering to international traders, shows heightened demand, driving BTC’s price upward despite the negative premium.
- Price Trajectory: Analysts view this shift as bullish, with further gains dependent on sustained global FOMO.
👉 Why Binance buyers are dominating the Bitcoin market
Bitcoin’s Recent Performance
BTC surged past $64,000** early Friday but retraced slightly to **$62,831 (down 0.7% at press time). Market cap briefly hit $1.26 trillion** before settling at **$1.242 trillion.
Bull Market Predictions
Crypto Rover highlights historical trends:
- Bull runs typically begin 170 days post-halving.
- Current cycle: 153 days post-halving (April 2024 event).
- Speculation mounts whether BTC will replicate past rallies.
👉 Timing Bitcoin’s next bull run
FAQs
1. What does a negative Coinbase Premium indicate?
It signals stronger Bitcoin demand on Binance versus Coinbase, often reflecting international trader dominance.
2. Why is Binance’s buying pressure significant?
Binance’s global user base can drive price rallies independently of US markets, fostering decentralized demand.
3. How does the halving cycle affect Bitcoin’s price?
Historically, bull markets start ~170 days post-halving, with peaks around 480 days. Current data aligns with this pattern.
4. What’s Bitcoin’s current market outlook?
Short-term volatility persists, but analyst optimism remains high due to structural demand shifts.
Featured image created with DALL-E. Chart from TradingView.
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