As the US whales were sold, Bitcoin’s $ 100,000 breakthrough broke.
According to the latest report released by Cryptoquat analyst Abram Chart, the coinbase premium, which shows the difference in the price of bitcoin between the US exchange coinbase and the global exchange, has fallen to -5.07. This is the lowest in order.
Experts say the indicator, which reflects the investor sentiment of US institutional investors and large investors, suggests the recent sales of whales in the US.
It is noteworthy that this decline has been in line with the time when Bitcoin is powerful in the $ 100,000 psychological resistance line. In mid -April, the premium rose as Bitcoin rose to $ 98,000, but since then, the price adjusted and reversed to the negative area.
“The premium has recovered a lot last month, but it has been falling again with the recent adjustment of Bitcoin prices.” He warned that the negative premium reflects the weakness of US investors, and that if the gap continues, the risk of falling can be increased in the short term.
Bitcoin is currently trading at $ 94,294, down 0.4% for 24 hours. Momentum, which rose to $ 98,000 last weekend, rebounded twice in the $ 93,000 support line in the last 48 hours, but failed to recover $ 95,000.
Bitcoin, down 0.9% from last week, is moving similar to the overall cryptocurrency market. However, it has risen 13.6% on monthly basis and 44.7% annually.
