Bitcoin Coinbase Premium Returns: Does it cost $ 90k BTC on cards?

The Premium Index of Coinbase bitcoin (btc) reached its highest level from February 20 after btc prices recovered 5% on March 19.

Return of Premium Coinbase Highlights bitcoin accumulation

The Coinbase Prima Index measures the price difference between coinbase and binance prices for btc pairs, where a higher value value indicates to US investors to issue a stronger purchase pressure. The index indicates the retail interest of the United States, but WoonMiskyu, verified analyst on Cryptoquant, <a target="_blank" data-ct-non-breakable="null" href="https://cryptoquant.com/insights/quicktake/67db8b92a2a7203afd398652-Signal-of-btc-Accumulation-by-US-Institutional-Investors” rel=”nofollow noopener” target=”_blank” text=”null” title=”https://cryptoquant.com/insights/quicktake/67db8b92a2a7203afd398652-Signal-of-btc-Accumulation-by-US-Institutional-Investors”>saying which can also indicate a strong accumulation of American institutions and whales.

The analyst explained that the 30 -day index EMA crossed the 100 -day EMA level, which implies the presence of great players. The analyst added,

“Past trends show that when this indicator increases, btc's Alcista markets tend to continue. High probability of a phase of accumulation, so it is a key moment to monitor the impulse of btc.”

Coinbase Pro was integrated into Coinbase Advanced (a platform used by companies such as the strategy and Tesla for btc purchases) in early 2024. Therefore, it is plausible that the Coinbase premium also represents the institutional interest of the United States to some extent.

Related: $ 77K probably the bitcoin fund since QT is 'effectively dead' – analysts

Can bitcoin recover $ 90K in March?

One of the main positives observed in the btc 1 day table is the bullish claim on the 200 -day exponential mobile (orange line). When prices remain above the 200 -day EMA level, the probability of a bullish trend increases so that btc form higher in the graph.

After a successful breakdown above $ 85,000 of resistance, converting the level into support further improves the possibility of a new $ 90,000 test. In the daily table, bitcoin Price also bounced from the lower range of Bollinger (BB) bands, with the mobile average metric above the level of $ 90,000.

The upward narrative is invalidated if a daily candle closes below $ 85,000 before the end of the week. Michael Van de Poppe, the founder of Mn Consultancy, shared a bullish position and said he <a target="_blank" data-ct-non-breakable="null" href="https://x.com/CryptoMichNL/status/1902631556939649431″ rel=”nofollow noopener” target=”_blank” text=”null” title=”https://x.com/CryptoMichNL/status/1902631556939649431″>hope A continuous race to test $ 90,000 again in the next few days.

However, Max, the founder of Diftbitcoin, <a target="_blank" data-ct-non-breakable="null" href="https://x.com/MaxBecauseBTC/status/1902723304923840768″ rel=”nofollow noopener” target=”_blank” text=”null” title=”https://x.com/MaxBecauseBTC/status/1902723304923840768″>saying btc could have a “little more work to do.” The analyst said that EMA cloud indicators continue to suppress btc below the range of $ 88,000 and $ 90,000. Max added,

“bitcoin is on each time frame, except the Daily & Weekly (RSI

In the same way, the cryptographic merchant Koroush Ak <a target="_blank" data-ct-non-breakable="null" href="https://x.com/KoroushAK/status/1902711394891710504″ rel=”nofollow noopener” target=”_blank” text=”null” title=”https://x.com/KoroushAK/status/1902711394891710504″>Suggested Merchants are still cautious until a change in the structure of the market occurs. The merchant said that bitcoin (btc) prices are currently at a critical level below $ 90,000; The possibility of a correction below $ 73,000 remains a threat.

Related: Why is the price of bitcoin today?

This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own research by making a decision.