CryptoQuant Analyst: Bitcoin's New High Driven by US Buying Pressure, Market Bullish Sentiment May Not Be Over Yet

BlockBeats News, July 10th, CryptoQuant analyst burakkesmeci stated that the Bitcoin price has reached a new all-time high of $112,014, while the Coinbase premium has risen to 42 points. This means that the price of Bitcoin purchased on Coinbase is $42 higher than on Binance, indicating strong demand from U.S. investors. It is worth noting that this premium is not the highest value this week. Last week, this difference reached 87.76 points, indicating even stronger buying pressure.

The analyst pointed out that the Coinbase premium is an important indicator of U.S. investor demand. A positive premium usually means that institutions or retail investors are more interested in Bitcoin. Even after reaching a new all-time high, the demand remains strong, indicating that the bullish market sentiment may not be over yet.