Coinbase Whales Behind Bitcoin’s Rally, CryptoQuant CEO Reveals

Data shows the Bitcoin Coinbase Premium Gap has plunged into negative territory, a sign that Binance whales may be the ones fueling the rally. Bitcoin Coinbase Premium Gap Has Declined Alongside Latest Price Surge As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin Coinbase Premium Gap has dropped to a negative […]

The price of Bitcoin broke $50,000 on futures exchanges and several data points suggest the U.S. session could see the rally continue. The price of Bitcoin (BTC) surpassed $50,000 for the first time in history across major futures exchanges, including Binance Futures.However, on spot exchanges, like Coinbase and Binance, the price of Bitcoin rejected closely below $50,000.BTC/USD 1-hour candle chart (Binance Futures). Source: TradingviewWhy more upside is likelyOn Feb. 16, the price of Bitcoin reached as high as $49,556 on Coinbase, marking its second attempt at breaking past the $50,000....

A negative premium implies that accumulation will last a little longer, meaning that $50,000 as support may have to wait too. Bitcoin (BTC) has already hit $50,000 on some exchanges but needs to get whales on its side to flip it to definitive support, data suggests.In a tweet on Feb. 16, Ki Young Ju, CEO of on-chain analytics service CryptoQuant, highlighted the so-called "Coinbase premium" as one of the final hurdles for BTC/USD.Negative premium slows upward grindOn Tuesday, a clear battle was emerging within Bitcoin trading as $50,000 stayed de facto out of reach for bulls.Analyzing the....

Technical factors suggest Bitcoin is still in a bull run even after a sharp sell-off from $18,476. After Bitcoin (BTC) price suddenly dropped from around $18,500 to $17,200, some traders began to question whether a local top had formed but there are multiple factors that suggest the bull run is still intact. Following the initial pullback, BTC continuously showed extreme volatility, demonstrating market uncertainty.The four factors that show Bitcoin’s momentum remains strong are whale inflows, a strong market response, resilience above each whale cluster, and high open interest.Whales are....

On-chain data shows the dormant Bitcoin whales have come back alive to make moves following the latest price surge in the cryptocurrency. Old Bitcoin Whales Have Just Made Several Transactions As explained by CryptoQuant community analyst Maartunn in a new post on X, there have been several transfers involving old tokens of the cryptocurrency during […]