{"id":643540,"date":"2024-09-21T04:00:56","date_gmt":"2024-09-21T04:00:56","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=643540"},"modified":"2024-09-20T14:53:05","modified_gmt":"2024-09-20T14:53:05","slug":"bitcoin-demand-surge-binance-buyers-take-charge-as-coinbase-premium-falls","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/bitcoin-news\/bitcoin-demand-surge-binance-buyers-take-charge-as-coinbase-premium-falls\/","title":{"rendered":"Bitcoin Demand Surge: Binance Buyers Take Charge As Coinbase Premium Falls"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\">A recent <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/66ed30b642286374a3726e84-Negative-Coinbase-Premium-Signals-Strong-Buying-Pressure-on-Binance\" target=\"_blank\" rel=\"noopener nofollow\">analysis<\/a> from a CryptoQuant analyst, known by the pseudonym \u2018Avocado Onchain,\u2019 \u00a0has highlighted a notable development in the Bitcoin market.<\/p>\n<p data-pm-slice=\"1 1 []\">According to the analyst\u2019s observations, the Coinbase Premium, which tracks the price difference between Bitcoin on Coinbase and Binance, has turned negative.<\/p>\n<p data-pm-slice=\"1 1 []\">This indicates that the price of Bitcoin is lower on Coinbase compared to Binance, a signal that often points to a divergence in <a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/will-bitcoin-break-through-70k-short-term-holders-buy-price-holds-the-key\/\" target=\"_blank\" rel=\"noopener \">buying activity<\/a> across different markets.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/green-september-close-bitcoin\/\" target=\"_blank\" rel=\"noopener \">Here\u2019s Why A Green September Close Is Important For The Bitcoin Price<\/a><\/div>\n<h2 data-pm-slice=\"1 1 []\">Buying Pressure Shifts To Global Markets<\/h2>\n<p data-pm-slice=\"1 1 []\">Despite the negative Coinbase Premium, the analyst noted that Bitcoin\u2019s price has increased. This suggests that while US-based traders on Coinbase may not be <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/green-september-close-bitcoin\/\" target=\"_blank\" rel=\"noopener \">driving the price up<\/a>, there is significant buying pressure on Binance, a major exchange catering to global users.<\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/329306\/quicktake\/XYPKG_ee6b54a48eb9d69c116f2c0ed341ac788bc4a1663a265d441a30add6db418b37.png?resize=1280%2C719&#038;ssl=1\" alt=\"Bitcoin: Coinbase premium gap reads negative.\" width=\"1280\" height=\"719\"><figcaption class=\"wp-caption-text\">Bitcoin: Coinbase premium gap reads negative. | Source: CryptoQuant<\/figcaption><\/figure>\n<p data-pm-slice=\"1 1 []\">The analyst pointed out that the negative Coinbase Premium suggests buyers outside the US are more active, particularly on Binance, where the price is slightly higher.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Negative Coinbase Premium Signals Strong Buying Pressure on Binance<\/p>\n<p>\u201cDuring the current upward trend, the fact that the Coinbase Premium is negative while <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a>\u2019s price isn\u2019t falling suggests that there is strong buying pressure occurring on Binance.\u201d \u2013 By <a href=\"https:\/\/twitter.com\/avocado_onchain?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@avocado_onchain<\/a>\u2026 <a href=\"https:\/\/t.co\/ipZ09cA1JK\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/ipZ09cA1JK<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/89657492?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">September 20, 2024<\/a><\/p><\/blockquote>\n<p data-pm-slice=\"1 1 []\">This buying activity reflects a stronger demand for Bitcoin on international platforms. Adding to the analysis, Avocado noted that for Bitcoin to experience a <a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/bitcoin-bullish-swing-top-analyst-says-yes\/\" target=\"_blank\" rel=\"noopener \">more substantial price increase<\/a>, buying pressure would need to continue its expansion globally, driven by fear of missing out (FOMO) across multiple regions.<\/p>\n<p data-pm-slice=\"1 1 []\">According to the analyst, this shift in buying pressure toward Binance is seen as a &#8220;positive sign&#8221; for Bitcoin\u2019s price trajectory.<\/p>\n<h2 data-pm-slice=\"1 1 []\">Bitcoin Performance So Far<\/h2>\n<p data-pm-slice=\"1 1 []\">Notably, Bitcoin&#8217;s price performance has reflected the positivity from this buying pressure shift. The asset has seen\u00a0<span style=\"margin: 0px;padding: 0px\">a significant increase in the past day, rising to <\/span><a href=\"https:\/\/www.ktsl888.com\/analysis\/btc\/bitcoin-price-higher-65k\/\" target=\"_blank\" rel=\"noopener \">above $64,000<\/a> in the early hours of Friday.<\/p>\n<p data-pm-slice=\"1 1 []\">However, Bitcoin has now seen a slight decrease from this 24-hour high to a trading price of $62,831, at the time of writing down by 0.7% in the past day.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/xDGPv5tX\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1496\"><figcaption class=\"wp-caption-text\">BTC price is moving upwards on the 1-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p data-pm-slice=\"1 1 []\">Notably, the increase in BTC price to over $64,000 also resulted in a brief spike in Bitcoin&#8217;s market cap valuation, rising by $20 billion to roughly $1.260 trillion before now sitting at $1.242 trillion at the time of writing.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/analysis\/btc\/bitcoin-price-higher-65k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Pushes Higher As The Bulls Set Sights on $65K<\/a><\/div>\n<p data-pm-slice=\"1 1 []\">According to analysts, Bitcoin major rally is fast approaching. A crypto YouTuber known as Crypto Rover\u00a0<span style=\"margin: 0px;padding: 0px\">recently\u00a0<a href=\"https:\/\/twitter.com\/rovercrc\/status\/69781579?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">pointed out<\/a>\u00a0on X that the Bitcoin\u00a0<a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/bitcoin-reclaims-63000-after-us-fed-rate-cut-but-is-this-rally-for-real\/\" target=\"_blank\" rel=\"noopener \">bull market usually<\/a><\/span>\u00a0starts 170 days after halving.<\/p>\n<p data-pm-slice=\"1 1 []\">Rover speculated that as the market currently stands 153 days after the halving, is it possible for history to repeat itself?<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Usually, the <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> bull market starts 170 days after halving.<\/p>\n<p>The market top is 480 days after halving.<\/p>\n<p>Currently, we are 153 days after the <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$BTC<\/a> halving.<\/p>\n<p>Will history repeat? <a href=\"https:\/\/t.co\/O4Ey0vQa39\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/O4Ey0vQa39<\/a><\/p>\n<p>\u2014 Crypto Rover (@rovercrc) <a href=\"https:\/\/twitter.com\/rovercrc\/status\/69781579?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">September 20, 2024<\/a><\/p><\/blockquote>\n<p data-pm-slice=\"1 1 []\">Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent analysis from a CryptoQuant analyst, known by the pseudonym \u2018Avocado Onchain,\u2019 \u00a0has highlighted a notable development in the Bitcoin market. According to the analyst\u2019s observations, the Coinbase Premium, which tracks the price difference between Bitcoin on Coinbase and Binance, has turned negative. This indicates that the price of Bitcoin is lower on Coinbase compared to Binance, a signal that often points to a divergence in buying activity across different markets. Related Reading: Here\u2019s Why A Green September Close Is Important For The Bitcoin Price Buying Pressure Shifts To Global Markets Despite the negative Coinbase Premium, the analyst noted that Bitcoin\u2019s price has increased. This suggests that while US-based traders on Coinbase may not be driving the price up, there is significant buying pressure on Binance, a major exchange catering to global users. The analyst pointed out that the negative Coinbase Premium suggests buyers outside the US are more active, particularly on Binance, where the price is slightly higher. Negative Coinbase Premium Signals Strong Buying Pressure on Binance \u201cDuring the current upward trend, the fact that the Coinbase Premium is negative while #Bitcoin\u2019s price isn\u2019t falling suggests that there is strong buying pressure occurring on Binance.\u201d \u2013 By @avocado_onchain\u2026 pic.twitter.com\/ipZ09cA1JK \u2014 CryptoQuant.com (@cryptoquant_com) September 20, 2024 This buying activity reflects a stronger demand for Bitcoin on international platforms. Adding to the analysis, Avocado noted that for Bitcoin to experience a more substantial price increase, buying pressure would need to continue its expansion globally, driven by fear of missing out (FOMO) across multiple regions. According to the analyst, this shift in buying pressure toward Binance is seen as a &#8220;positive sign&#8221; for Bitcoin\u2019s price trajectory. Bitcoin Performance So Far Notably, Bitcoin&#8217;s price performance has reflected the positivity from this buying pressure shift. The asset has seen\u00a0a significant increase in the past day, rising to above $64,000 in the early hours of Friday. However, Bitcoin has now seen a slight decrease from this 24-hour high to a trading price of $62,831, at the time of writing down by 0.7% in the past day. Notably, the increase in BTC price to over $64,000 also resulted in a brief spike in Bitcoin&#8217;s market cap valuation, rising by $20 billion to roughly $1.260 trillion before now sitting at $1.242 trillion at the time of writing. Related Reading: Bitcoin Price Pushes Higher As The Bulls Set Sights on $65K According to analysts, Bitcoin major rally is fast approaching. A crypto YouTuber known as Crypto Rover\u00a0recently\u00a0pointed out\u00a0on X that the Bitcoin\u00a0bull market usually\u00a0starts 170 days after halving. Rover speculated that as the market currently stands 153 days after the halving, is it possible for history to repeat itself? Usually, the #Bitcoin bull market starts 170 days after halving. The market top is 480 days after halving. Currently, we are 153 days after the $BTC halving. Will history repeat? pic.twitter.com\/O4Ey0vQa39 \u2014 Crypto Rover (@rovercrc) September 20, 2024 Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":643549,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,629,1119,78790,6664,10923,83531],"class_list":["post-643540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market","tag-cryptoquant"],"acf":[],"yoast_head":"\n<title>Bitcoin Demand Surge: Binance Buyers Take Charge As Coinbase Premium Falls<\/title>\n<meta name=\"description\" content=\"A recent analysis from a CryptoQuant analyst, known by \u2018Avocado Onchain,\u2019 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Edyme\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ktsl888.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"caption\":\"Samuel Edyme\"},\"description\":\"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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