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Bitcoin’s price surged into the weekend, rising after the release of weaker-than-expected inflation data in the United States. An analyst also pointed to evidence that US investor activity has been a key driver of the broader cryptocurrency market’s recent momentum.
Crypto analyst Burak Kesmeci said that the Coinbase Premium Index has been a major indicator guiding Bitcoin’s price over the past two years. He described the index as an on-chain metric that measures the difference between the BTC price on the US-based Coinbase exchange (USD pair) and the global Binance exchange (USDT pair).
In Kesmeci’s view, the Coinbase Premium Index reflects the sentiment of US investors—particularly institutional participants—and how that sentiment differs from activity on exchanges such as Binance. He added that the indicator has a direct relationship with Bitcoin’s price, implying that demand from US investors plays a significant role in Bitcoin’s market dynamics.
Kesmeci further shared data suggesting the Coinbase Bitcoin Premium Index has been “green” on an hourly basis. He said the “locomotive” behind Bitcoin’s move from $66,000 to $73,000 was positive sentiment from US investors, especially “whales.”
At the time of writing, Bitcoin was trading at around $73,330, representing an increase of over 1% over the previous 24 hours.

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