Coinbase Index Pulls U-Turn as Bitcoin (BTC) Price Hits $122,000: Details
Main Idea
Bitcoin's price surged to $122,319 on Coinbase, nearing its all-time high, but the Coinbase Premium Index flipped red shortly after, suggesting a potential 'pump and dump' scenario.
Key Points
1. Bitcoin's price surged nearly 4% to reach $122,319 on Coinbase, close to its previous record of $123,091.
2. The Coinbase Premium Index flipped red after Bitcoin surpassed $122,319, indicating a possible 'pump and dump' scenario.
3. A CME gap was observed after Bitcoin's price surge, with futures closing at $117,430 on Friday and opening at $119,000 on Monday.
4. Bitcoin was trading at $121,596 at the time of reporting.
Description
Bitcoin reached high of $122,319 on Coinbase
$BTC
$119832.7
+0.80%
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