Coinbase Premium was on a downtrend in December.
Whales had significantly reduced their long exposure.
Bitcoin [BTC] climbed back above $43,000 in the last 24 hours of trading, with the market poised to retreat for end-year festivities on a high. As of this writing, BTC was at $42, 931 with a significant 24-hour gain of 4.51%, as per CoinMarketCap.
Nearly $26 billion worth of BTCs exchanged hands at the time of writing, causing a 38.54% spike in daily trading volume.
Trading activity was most likely driven by greedy buyers, as observed by AMBCrypto using Hyblock Capital’s data. The traders hoped to multiply their investments come January 2024 when several spot Bitcoin ETF applications could be green-lighted.
Source: Hyblock Capital
However, amidst the upbeat mood, some alarming signals drew the attention of market experts.
U.S. whales not as bullish as they were
Coinbase Premium, one of the popular indicators for tracking institutional whale’s movement, showed signs of bearishnes
We współpracy z: https://ambcrypto.com/bitcoin-are-whales-taking-a-festive-break/
