Bitcoin Bounces to $64K as Big Investors Step In: CryptoQuant

Bitcoin has climbed back to $64,000, and analysts say big American investors are the reason why.

According to CryptoQuant (a company that studies data from the blockchain — the public record of all crypto transactions), the recent price jump was driven by "whales." Whales are people or companies that own huge amounts of Bitcoin, so when they buy or sell, prices can move sharply.

The key clue analysts used is something called the Coinbase Premium — the price difference for Bitcoin between Coinbase (a big US exchange) and Binance (a big global exchange). When Bitcoin costs more on Coinbase, it usually means US buyers are eager to buy, a sign of strong demand.

Here are the main facts:

• Bitcoin rose from around $58,000 to $64,000.
• Ethereum (the second-biggest crypto) rose from $1,500 to $1,750.
• The Coinbase Premium is still slightly negative at -0.08, but it has bounced up from its lowest point.
• It broke above its 14-day moving average (an average of the last 14 days' values — a tool traders use to spot trends).

Analyst Burak Kesmeci explained that even though the premium is still in negative territory (meaning demand isn't fully strong yet), the recent bounce shows buyers are regaining strength. He noted that US whale activity often signals where the market is heading next.

Research from Bitcoin Suisse also hinted that "something changed" in the market this week, adding to the sense of renewed momentum.

The bottom line: The rebound to $64K appears to be a short-term boost powered by large US buyers. But because the Coinbase Premium hasn't turned clearly positive yet, analysts caution that this may be a temporary bounce rather than a guaranteed long-term rally.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/markets/bitcoin-whales-sent-btc-price-to-64k-as-coinbase-premium-broke-key-level-cryptoquant?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound