On December 18, 2024, the US Federal Reserve shocked the market with its strict expectations for 2025. As a result, Bitcoin began to correct sharply, falling from $108,000 to $91,000, and people started to worry about the end of the bull market .
The American investor was said to be done with Bitcoin for a while, but that now seems to be turning around again.
US Investor Pushes Bitcoin Up?
How do we actually know which investors are responsible for the rise in the Bitcoin price? You can’t see on an exchange which countries the buyers come from, can you?
No, that’s right. But the Coinbase Premium is a way to get a rough idea of this. We speak of a positive Coinbase Premium if the Bitcoin price on the American Coinbase is higher than on Binance.
In general, Coinbase is a trading platform for Americans, and of course also for institutional parties.
While we saw a negative premium since the end of December, meaning Bitcoin was cheaper on Coinbase than on Binance, the premium is now almost neutral again.
This means that sentiment among American and institutional investors is returning. They are becoming interested in Bitcoin again, and that is a good signal for the digital currency.
Breaking through $100,000 is a good signal for Bitcoin
According to the pseudonymous analyst Scient, we are at least back on the right track with the Bitcoin price of 100,000 dollars.
He states in the tweet below that Bitcoin should break the price of 99,000 dollars, and that has been achieved. But also that we must subsequently transform this course into a point of support. That will of course remain to be seen in the coming days.
If that works, then we don’t have to worry, according to Scient. Will we lose that $99,000 price again? Then we will probably look for lower prices and possibly retest the zone from 90,000 to 88,000 dollars.
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Source: https://newsbit.nl/amerikaanse-beleggers-pushen-bitcoin-koers-omhoog/
