$BTC Bitcoin makes ‘big move’ after Fed rate decision, Coinbase Premium turns red
A negative Coinbase Premium Index and the markets’ reaction to a disappointing Federal Reserve presser catalyzed a “big move” in Bitcoin price.
Key takeaways:
Bitcoin’s Coinbase Premium turned negative after a 62-day buying streak.
BTC continues to hold above $115,000 despite rising sell pressure and a negative futures CVD.
The Bitcoin
$117,875
Coinbase Premium Index has turned negative for the first time since May 29, ending 62 days of being positive. The metric, which tracks the price difference between Coinbase’s BTC/USD and Binance’s BTC/USDT pairs, is commonly used as a proxy for US spot demand.