Bitcoin Price Reaches New High Driven by US Investor Buying, Market Price Signal May Not Have Ended.
On July 10th, analyst burakkesmeci from the on-chain data platform CryptoQuant reported that Bitcoin price touched an All-Time-High of $112,014. At the same time, the price premium index between Coinbase and Binance increased to 42 points, indicating that Bitcoin's purchase price on Coinbase was $42 higher than on Binance. This is a clear sign of strong demand from US investors.
Notably, this price difference was not the highest in the week. Previously, in the previous week, the gap between the two exchanges had reached 87.76 points - a level that showed even greater buying pressure, reflecting significantly increasing US buying demand.
According to CryptoQuant's analysis, the Coinbase Premium index is an important indicator used to track US investor demand, especially from institutions and individual investors. When this index remains positive, it typically reflects heightened interest in Bitcoin.
Although Bitcoin has just reached a new high, market demand has not yet cooled down. This suggests that the bull sentiment in the market may still be continuing, and the likelihood is that Bitcoin's upward momentum has not yet ended.
