In a promising development, the Bitcoin price is inching closer to the coveted $100,000 mark as it trades above $98,000 for the first time since late December. Crypto analyst Ali Martinez has highlighted several critical metrics that could signal further bullish momentum for the leading cryptocurrency as the market begins to recover. Bitcoin Price Surges Amid Coinbase Premium Index Low One of the significant indicators discussed by Martinez is the Coinbase Premium Index, which recently hit -0.23%, its lowest point in two years. This index measures the price difference between Bitcoin on Coinbase and other exchanges. A negative premium suggests that US-based investors may be less willing to pay a premium for Bitcoin, but the current rebound could indicate a shift toward growing institutional interest in the asset. Related Reading: Prepare For A Solana Sell-Off: How Grayscale’s 2025 Unlocks Could Shake The Market Martinez also noted that the recent uptick in the Bitcoin price comes amid a notable withdrawal trend, with over 48,000 BTC—valued at more than $4.5 billion—pulled from exchanges in the past week. This trend indicate ..
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