CryptoQuant CEO and analyst Ki Young Ju, who has made a name for himself with his predictions and data about Bitcoin (BTC), made a new post about BTC.

Ki Young Ju, who previously reviewed the Coinbase Premium Index, stated that the BTC price premium has recovered today. “The Coinbase Bitcoin price premium appears to be recovering.” said, Ju also added a chart about the Bitcoin premium in the Coinbase Index to his share.

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The Coinbase Premium Index is a tool used to determine the difference between Bitcoin price on Coinbase Pro and exchanges like Binance. The premium of the index reflects whether institutional investors are actively selling or buying in the spot market.

The rise in the premium in the index is interpreted as a sign that institutional investors are actively entering the market and starting to buy BTC. Coinbase Premium, on the other hand, is mostly used by large crypto investors.

Institutional bitcoin btc

The increase in premiums in the index is seen as a sign that the purchasing power of Bitcoin and cryptocurrencies in the market is increasing and whales are accumulating. With the increase in buying volume in the crypto market, the premium in the index is getting higher.

Ju, who previously reviewed the Coinbase Premium Index, said that the index closed in a positive number as of June 30, and the indicator turned positive for the first time since the market sell-off in April 2022. He stated that this means that institutional investors are no longer actively selling, but are buying large amounts of spot BTC and these purchases push the index into the premium range.

Bitcoin price at the time of writing was $21.70 and BTC's last 24-hour trading volume was $41,240,907,784 according to CoinGecko. Bitcoin (BTC) price is up 2.9% in the last 24 hours.