Coinbase Premium index highest since July
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According to CryptoQuant's Julio Moreno, this uptick in demand was linked to the Fed's signals that the cycle of lower interest rates would soon begin.On Aug. 23, the Coinbase Premium Index, which tracks the price gap between Bitcoin on Coinbase Pro and Binance, spiked to its highest level since mid-July, reaching 0.0114. This index is often used to gauge U.S. investor demand relative to the global market, with positive readings indicating buying pressure.
Historically, such shifts in the indicator have preceded significant Bitcoin bull runs, suggesting a strong likelihood of another rally on the horizon.Dan is a news editor and writer with 12 years of experience in finance and emerging technologies, with a strong focus on crypto. Covering a broad spectrum of topics, from fintech startups to AI, he provides an in-depth overview of the current state of the crypto market, along with insights into its potential for future disruption.
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