Coinbase Premium сигнализирует о возможном рекорде для биткоина Translation: Coinbase Premium Signals Possible Record for Bitcoin

Amid the surge of the leading cryptocurrency to $121,000, the Coinbase premium has risen to 91.86. CryptoQuant analyst Burak Kesmeci described this as a potential indicator for Bitcoin to reach a new all-time high.

“On the hourly timeframe, it is evident that the price difference on Coinbase has increased to $91.86. This indicates that U.S. investors are purchasing the asset on the exchange at a rate $91.86 higher than on Binance. Such a strong positive signal from the U.S. could suggest a possible move towards a ATH,” he stated.

As of the time of writing, digital gold is trading around $120,400, having increased by 1% over the last day.

According to CoinGecko, the first cryptocurrency is just 3% away from a new record.

The activity of American investors coincided with consistent inflows into spot Bitcoin ETFs. From September 29 to October 2, over $2.2 billion flowed into products — the highest figure since mid-last month.

The total inflow of funds since the launch of these instruments in January 2024 has nearly approached $60 billion. The largest fund remains BlackRock’s IBIT, which also set a local trading volume record on October 2.

According to Bloomberg exchange analyst Eric Balchunas, this ETF is now among the top ten most traded products, alongside SPY, QQQ, and GLD.

IBIT has also entered the top 20 funds in terms of assets under management for the first time, surpassing $90 billion. For BlackRock’s instrument to enter the top ten, it needs to accumulate another $50 billion, the expert noted.

Over the past week, Ethereum ETFs attracted more than $1 billion, totaling $14 billion since their launch.

Balchunas also pointed out that the open interest in options for IBIT has, for the first time, exceeded the numbers for Deribit. After the expiration on September 26, the positions for the fund reached approximately $38 billion compared to $32 billion for the derivatives exchange.

“I told you, ETFs are serious. The hefty crypto margins are at risk,” the analyst commented.

Balchunas stated that among competitors, BlackRock’s fund demonstrates an absolute monopoly in the options market, adding:

“The options market tends to favor a ‘winner takes all’ model, unlike assets under management, which are distributed more evenly.”

Recall that the CryptoQuant expert under the pseudonym PelinayPA confirmed the “healthy dynamics” of Bitcoin. Analysts have also identified conditions for the leading cryptocurrency to rise to $200,000.