"Coinbase Premium Turns Negative... Caution Against Excessive Bullish Bets"

Recently, Bitcoin (BTC) has surpassed $100,000 again, continuing its bullish trend, but there is analysis suggesting that optimistic bets could be risky.

On the 16th, CryptoQuant contributor BQ YouTube reported in a report that "Coinbase's Bitcoin premium (the price of Bitcoin on Coinbase compared to other exchanges) has turned negative."

He continued, "It is advisable not to take excessive long positions when the Coinbase premium is negative," emphasizing that "historically, it has been much safer to buy and maintain long positions when the Coinbase premium starts turning positive again."

This is because the Coinbase premium is an indicator of Bitcoin demand in the United States. The report explained, "When the Coinbase premium turns negative, it suggests that the demand from U.S. whales is decreasing, which could affect the overall cryptocurrency market. Therefore, waiting until the premium turns positive again might be a safer investment strategy."