Bitcoin firmly holds at $80k, Coinbase Bitcoin premium index and capital flow indicate a correction trend

robot
Abstract generation in progress

BlockBeats News, May 7th, according to Coinglass data, despite Bitcoin recently holding steady above $80k, Coinbase Bitcoin Premium Index has started to turn negative. And for most of April, the Coinbase Bitcoin Premium Index remained in positive territory.

In addition, the IFP index, which reflects market participants’ risk appetite and capital flow direction, has fallen below the 90-day moving average, indicating that Bitcoin is flowing back from derivatives exchanges to spot exchanges to some extent, suggesting reduced speculative interest and risk aversion, which typically corresponds to bearish/risk-averse sentiment.

BTC-0.84%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin