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Bitcoin Breaks $82,000: Who Is Driving The Market?

  • The Bitcoin Coinbase Premium Gap, which measures the price difference between Coinbase and Binance, indicates the market dynamics behind the recent bullish price action.
  • Positive values suggest higher buying pressure on Coinbase, driven by American investors and institutional entities, while negative values indicate a higher buying pressure on Binance.
  • Sporadic negative spikes in the Premium Gap preceded upward movements in Bitcoin's price, highlighting the influence of buying activity on Binance.
  • Bitcoin briefly reached a new all-time high above $82,000 before experiencing a minor pullback to $81,900.

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