US Investors Back on Bitcoin: Critical Data Turns Positive!

According to recent data, critical data representing US investors in Bitcoin has turned positive again. On-chain data platform CryptoQuant previously indicated that the Coinbase premium signaled a weakening buying demand in the US. However, according to data shared by a CrpytoQuant analyst today, the Coinbase Premium has turned positive again. The 7-day moving average of the Coinbase Premium, which tracks the difference in prices between Coinbase and the world’s largest cryptocurrency exchange Binance, is currently once again at a higher level, indicating that US individual and institutional investors are starting to buy again. Spot Bitcoin ETFs also ended their 5-day uptrend and turned positive yesterday. The general shift to positive data has triggered a rise in Bitcoin prices and almost wiped out the correction that has been going on for some time. According to CoinGecko, Bitcoin is currently trading at $70,100.