{"id":5771,"date":"2024-12-06T12:13:21","date_gmt":"2024-12-06T11:13:21","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=5771"},"modified":"2024-12-06T12:13:21","modified_gmt":"2024-12-06T11:13:21","slug":"bitcoin-surges-past-100000-fueled-by-rising-institutional-interest","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2024\/12\/06\/bitcoin-surges-past-100000-fueled-by-rising-institutional-interest\/","title":{"rendered":"Bitcoin Surges Past $100,000 Fueled by Rising Institutional Interest"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Information from CryptoQuant has unveiled how institutional investors have been the catalysts behind the recent Bitcoin upswing above $100,000.<\/p>\n<h2>Bitcoin Coinbase Premium Index Has Shown Positive Signs Recently<\/h2>\n<p>In a recent <a href=\"https:\/\/x.com\/cryptoquant_com\/status\/1864502406748258577\" target=\"_blank\" rel=\"noopener nofollow\">update<\/a> on X, the on-chain analytics company CryptoQuant has examined the current trend in the Bitcoin Coinbase Premium Index. The \u201c<a href=\"https:\/\/bitcoinist.com\/bitcoin-us-demand-soars-as-coinbase-premium-index-suggests-further-upside-post-election\/\" target=\"_blank\" rel=\"noopener \">Coinbase Premium Index<\/a>\u201d is a measure that tracks the percentage variation between the BTC price on Coinbase (USD pair) and that on Binance (USDT pair).<\/p>\n<p>This metric conveys how the purchasing or selling patterns vary between the user populations of these major cryptocurrency exchanges. Coinbase primarily attracts US-based investors, particularly large<a href=\"https:\/\/bitcoinist.com\/crypto-exchanges-historic-institutional-binance\/\" target=\"_blank\" rel=\"noopener \"> institutional players<\/a>, while Binance accommodates users across the globe.<\/p>\n<p>When the Coinbase Premium Index reflects a positive value, the asset is traded at a superior rate on Coinbase than on Binance. Such a situation indicates that American whales are exerting more purchasing or reduced selling pressure compared to international traders.<\/p>\n<pConversely, a negative reading suggests that users on Binance may be acquiring more than those on Coinbase as BTC is priced higher there.<\/p>\n<p>Now, here is the chart provided by the analytics firm that illustrates the trend in the Bitcoin Coinbase Premium Index throughout the past year:<\/p>\n<\/p>\n<pre style=\"text-align: center;\">The value of this metric has been notably positive in recent weeks | Source: <a href=\"https:\/\/x.com\/cryptoquant_com\/status\/1864502406748258577\/photo\/1\" target=\"_blank\" rel=\"noopener nofollow\">CryptoQuant on X<\/a><\/pre>\n<p>As shown in the above chart, the Bitcoin Coinbase Premium Index experienced a significant rise into positive territory at the beginning of November and has since remained within this sphere, aside from a slight dip.<\/p>\n<p>This trend indicates that the purchasing pressure on Coinbase has persistently outstripped that on Binance. The\u00a0<span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">asset\u2019s value\u00a0<span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">underwent a<a href=\"https:\/\/bitcoinist.com\/bitcoins-path-to-100000-faces-hurdles\/\" target=\"_blank\" rel=\"noopener \">\u00a0sharp rally<\/a> during this period, suggesting that this accumulation by\u00a0<\/span>US-based investors\u00a0<\/span>has driven the increase.<\/p>\n<p>The chart indicates that this phenomenon has also been observed multiple times over the past year, with positive spikes in the Coinbase Premium Index typically signaling bullish trends for Bitcoin.<\/p>\n<p>The latest surge to the new all-time high (ATH) exceeding $104,000 has also coincided with another significant upward spike in the indicator. Thus, American institutional investors appear to be playing a crucial role in the marketplace.<\/p>\n<p>Considering this trend, the Coinbase Premium Index is undoubtedly an indicator to monitor in the near future, as emerging changes may once again foreshadow Bitcoin\u2019s price direction.<\/p>\n<h2>BTC Price<\/h2>\n<p>At the moment of writing, Bitcoin is trading at approximately $100,800, an increase of over 6% in the last week.<\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/M61P86oe\/\" alt=\"Bitcoin Price Chart\" width=\"1486\" height=\"889\"\/><\/p>\n<pre style=\"text-align: center;\">It seems that the coin's price has realized a significant rise over the past day | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/qFC1kfFd\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on TradingView<\/a><\/pre>\n<p>Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/bitcoinist.com\/bitcoin-surpasses-100000-institutionals-cyptoquant\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Information from CryptoQuant has unveiled how institutional investors have been the catalysts behind the recent Bitcoin upswing above $100,000. Bitcoin Coinbase Premium Index Has Shown Positive Signs Recently In a recent update on X, the on-chain analytics company CryptoQuant has examined the current trend in the Bitcoin Coinbase Premium Index. The \u201cCoinbase Premium Index\u201d is<\/p>\n","protected":false},"author":3,"featured_media":5772,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[314],"class_list":{"0":"post-5771","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-gptreturn-a-list-of-comma-separated-tags-from-this-title-bitcoin-breaks-100k-as-institutional-demand-drives-price-gpt"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Surges Past $100,000 Fueled by Rising Institutional Interest - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2024\/12\/06\/bitcoin-surges-past-100000-fueled-by-rising-institutional-interest\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Surges Past $100,000 Fueled by Rising Institutional Interest - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"Information from CryptoQuant has unveiled how institutional investors have been the catalysts behind the recent Bitcoin upswing above $100,000. 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