Coinbase Premium Z-Score #bitcoin hits highest level in 2 years 🔥
The bearish divergence we identified earlier this month has played out 🤝
At that time we suggested caution in short term because institutional investors were taking profits, which caused price imbalances and triggered deeper corrections.
The cost basis🟡 Aggregate Spot ETF is around ~$74k — these investors are likely to increase realization if price breaks below that average.
Now that blood has started to appear on the streets🩸 we’re returning to new purchases #BTC
#technicalanalyst #ETFvsBTC #coinbase $BTC
The bearish divergence we identified earlier this month has played out 🤝
At that time we suggested caution in short term because institutional investors were taking profits, which caused price imbalances and triggered deeper corrections.
The cost basis🟡 Aggregate Spot ETF is around ~$74k — these investors are likely to increase realization if price breaks below that average.
Now that blood has started to appear on the streets🩸 we’re returning to new purchases #BTC
#technicalanalyst #ETFvsBTC #coinbase $BTC
