$BTC According to data from the CryptoQuant platform, the Coinbase Bitcoin Premium Index, which measures the price difference between Bitcoin on Coinbase Pro (USD pair) and Binance (USDT pair), has remained in positive territory, indicating continued buying pressure from American investors.
This trend is attributed to the rising institutional demand and the preference of American markets for Bitcoin as a strategic hedge amid a worsening sovereign debt crisis. As the market value of digital currencies approaches the $4 trillion mark, Bitcoin is expected to record a new all-time high in the coming weeks.
Traders in the options market are betting on a new price peak.
Data from Kaiko and Amberdata platforms showed exceptional activity in Bitcoin options at exercise levels of $110,000 and $120,000, figures that surpass the previous highs of the currency. The data indicates a net 'Negative Gamma' state at the $110,000 level, which warns of a significant acceleration in the upward direction if this barrier is breached, due to the nature of the hedging followed by market makers in such cases.