Key Points
- U.S. investors are increasingly buying Bitcoin (BTC), contributing to a bullish market sentiment.
- Bitcoin maintains its position above $100,000, with a 24-hour gain of 2.14%.
Bitcoin (BTC) continues to hold strong above the $100,000 mark, following its crossing of this threshold on January 17th. The cryptocurrency has seen a 24-hour gain of 2.14%, indicating a steady buying pressure in the market.
U.S. Investors Show Interest in BTC
The Coinbase Premium Index on CryptoQuant shows a surge in buying activity from U.S. retail investors. This index measures the price gap between BTC on Coinbase and Binance, with a positive reading indicating bullish sentiment and a negative reading suggesting bearish sentiment. Currently, the index stands at 0.0154, slightly in the positive zone, indicating a renewed interest in BTC from U.S. investors.
Overall Bullish Market Sentiment
Despite some investors selling BTC at a profit, the market sentiment remains largely bullish. The Taker Buy-Sell Ratio, which compares buy orders to sell orders in the derivatives market, currently stands at 1.021. This suggests a sustained bullish sentiment, with more buy orders being filled than sell orders.
The recent executive order passed by President Donald Trump has sparked interest in the crypto market, especially among U.S. retail traders. This order provides a framework for the crypto industry, which could encourage more U.S. investors to start buying BTC. This influx of retail investors could potentially drive BTC’s price to a new all-time high.
