Bitcoin Institutional Pressure Builds – Coinbase Premium Reveals US Whale Accumulation
Main Idea
The article discusses Bitcoin's price consolidation near its all-time high, institutional demand indicators, and potential market movements based on technical analysis and political-economic factors.
Key Points
1. Bitcoin is consolidating just below its all-time high of $112,000, with bulls defending key support levels above $105,000.
2. The Coinbase Premium Gap, reflecting institutional demand, has reached a historic high, indicating strong US-based buying pressure.
3. Recent ETF inflows and institutional buying suggest robust demand, potentially driving Bitcoin into price discovery.
4. Technical analysis shows Bitcoin trading around $108,715, with key support at $106,000–$106,300 and resistance at $109,300.
5. Political and economic developments, including US tax cuts and spending bills, may influence Bitcoin's price trajectory.
Description
Bitcoin is once again struggling to break into uncharted territory, hovering just below the $112,000 all-time high it has tested multiple times since late May. While bulls continue to defend key demand zones above $105K, bears are starting to speculate that a correction may be near if the breakout fails. Despite the uncertainty, Bitcoin’s structure remains intact, showing strength in the face of growing volatility. Top analyst Darkfost suggests that institutional players are behind the current p...
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