All
Contribute!
BlockchainCrypto MarketCryptocurrency

Coinbase premium hits seven-month peak as Bitcoin sees renewed US demand

CoinSurges
By CoinSurges

Share This Post

Bitcoin’s “Coinbase Premium,” a key indicator of demand for the leading digital asset in the US, surged to its highest level in seven months following Donald Trump’s recent election victory.

On Nov. 6, data chain analytics firm CryptoQuant shows that the premium turned positive and reached 0.09, the highest level since April 14.

Bitcoin Coinbase Premium
Bitcoin Coinbase Premium (Source: CryptoQuant)

The Coinbase Premium Index tracks the price difference between Bitcoin on Coinbase—the largest US-based crypto exchange—and Binance, the global leader in trading volume. A rising premium typically signals increasing demand and buying pressure from US institutional investors and traders.

Market analysts have suggested that the recent increase in the Coinbase Premium reflects a renewed interest in Bitcoin following Trump’s victory.

According to CryptoSlate’s data, Bitcoin reached a new all-time high of over $76,000 in the past 24 hours before slightly retracting to $74,950 as of press time.

The post Coinbase premium hits seven-month peak as Bitcoin sees renewed US demand appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

DEGEN L3 migration hindered by Conduit standoff and financial losses

In a post shared with its community, DEGEN revealed mounting challenges in its ongoing effort to migrate DEGEN L3 to a new service provider The prolonged standoff, which DEGEN claims has stalled

Bitcoin Advocate Is The Top-Pick For Treasury Secretary Under Trump: Report

Billionaire hedge fund manager Scott Bessent is reportedly positioning himself as the leading candidate for Treasury Secretary under a Donald Trump administration Matthew Pines, Director at

Crypto market remains bullish following Fed rate cut

Following a meeting on Nov 7, the Fed’s Federal Open Market Committee (FOMC) cut the US interest rate by another 25 basis points (bps), lowering it to 45% from 475% The crypto and equities markets

Ethereum’s Bullish Breakout, ETH Poised for 23% Rally

The post Ethereum’s Bullish Breakout, ETH Poised for 23% Rally appeared first on Coinpedia Fintech News Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, is now poised for

Trader’s Successful Donald Trump Bets Prompts French Regulator to Go After Polymarket

The French gambling regulator is considering banning access to the predictions market Polymarket despite the platform not specifically targeting French users Polymarket’s Political Predictions

Dogecoin Price Looking To Close Weekly Candle Above The Yellow Line, Why $10 Is Possible If This Happens

A crypto analyst has disclosed that the Dogecoin price may be positioning itself for a significant move upward as it approaches a critical weekly close The question arises as to whether Dogecoin can
Previous article
Along With Bitcoin, These Cryptos Which are Poised to Mark New Highs This Month—Do You Own Some? 
Next article
Staking could lower fees and boost interest in Ethereum ETFs, analyst claims

Categories:

Hot right now:

Company:

Follow on:

Crypto Coin Live Stats

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.