Bitcoin Surges to New Record Over $93K as Strong U.S. Demand Crushes Resistance Level [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
The surge was fueled by heavy demand, with the Coinbase Premium Index at its highest level since April. Blackrock's iShares Bitcoin ETF (IBIT) was the fourth-most traded product across all ETFs, with $1.2 billion volume in the first hour of the session. After bouncing off the $90,000 level multiple occasions earlier this week, bitcoin {BTC}} moved through that resistance during U.S. morning hours Wednesday. Once through, further gains ensured, with the price quickly rising past $93,000. The breakthrough over the key price level happened right as U.S. traditional markets opened at 9:30 am E.T., indicating that strong demand from U.S. investors propelled prices higher. Bitcoin's Coinbase Premium Index, a key gauge of U.S. demand, has jumped to 0.2, its highest reading since April, CryptoQuant data showed, underscoring the heavy buying pressure coming from U.S. players. The metric measures the price difference for the leading crypto asset on Coinbase, widely used by U.S.-based
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- 10/30/24 - Miss
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Sec Filings
- 11/14/24 - Form SC
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