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

JPMorgan Casts Doubt on Elon Musk’s D.O.G.E. Pursuit of Federal Reform

JPMorgan has warned the Elon Musk-led Department of Government Efficiency (DOGE) will face significant hurdles, citing Congress’ control over spending Elon Musk’s DOGE Sparks Debate as JPMorgan

XRP Price Reaches 3-Year High At $1.6 – 2 Ways It Can Go From Here

The XRP price recently surged to a three-year high of $16, marking a significant milestone in the cryptocurrency’s recent bullish rally This remarkable price movement has garnered the attention

From Premiums to Discounts: Bitcoin’s Wild Ride Splits Global Markets

In the past week, the crypto market has been buzzing with action, with bitcoin smashing its way to a new all-time high of $99,800 per coin on Thursday Data reveals an intriguing dynamic during this

XRP Analyst Sets $2 Target If It Holds Key Level – Can It Reach Multi-Year Highs?

XRP has emerged as a standout leader in the recent crypto rally, delivering massive gains and fueling optimism among investors The price has skyrocketed by an astonishing 225% in under three weeks,

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA

Welcome to Latam Insights, a compendium of the most relevant crypto and economic news from Latin America over the past week In this issue, Max Keiser floats an idea to allow El Salvador to acquire

XRP Below $1? Not Happening, Claims Millionaire Analyst

Ripple’s XRP has traded below the $1 level for nearly three years, affected primarily by the cases filed by the US Securities and Exchange Commission (SEC) Even during the mini bull run immediately
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.