Data shows the Bitcoin Coinbase Premium Gap has plunged into the red zone 
alongside the latest drop in the BTC spot price below the $80,000 level. 
Bitcoin Has Retraced Some Of Its Recent Price Recovery Bitcoin saw recovery 
surges above $82,000 on Sunday and Monday, but these spikes failed to set the 
tone for the week as BTC has since followed a downward trajectory. This 
decline observed an acceleration on Wednesday, with the cryptocurrency&#8217;s price 
even briefly sinking below $79,000. Related Reading: Dogecoin TD Sequential 
Flashes Sell Signal: Price Correction Ahead? Below is a chart that shows the 
price action that Bitcoin has experienced recently. As is visible in the 
graph, Bitcoin has made some recovery from its low, as its price is now 
floating around $79,600, but compared to the Sunday high, it remains down 
about 3.3%. Now, what was the cause behind the drop? The data of the Coinbase 
Premium Gap may provide some hints. BTC Coinbase Premium Gap Has Turned 
Negative Recently As pointed out by analyst Maartunn in an X post, the Bitcoin 
Coinbase Premium Gap has declined recently. This indicator measures the 
difference between the BTC spot price listed on Coinbase (USD pair) and that 
on Binance (USDT pair). When the value of the metric is positive, it means BTC 
is going for a higher rate on Coinbase than on Binance. Such a trend implies 
users of the former are applying a higher buying pressure (or lower selling 
pressure) than the latter&#8217;s traders. On the other hand, the indicator having a 
sub-zero value suggests Binance investors may be applying a higher buying 
pressure as BTC is trading at a higher price on the platform. Now, here is the 
chart shared by Maartunn that shows the recent trend in the Bitcoin Coinbase 
Premium Gap: As displayed in the above graph, the Bitcoin Coinbase Premium Gap 
has dipped into the red zone recently, indicating that the asset has been 
trading at a discount on Coinbase. These negative values in the metric have 
coincided with the cryptocurrency&#8217;s pullback, a potential sign that selling 
pressure on the platform may have a role to play in it. Bitcoin showing some 
correlation to the Coinbase Premium Gap isn&#8217;t a new development. In fact, it&#8217;s 
a pattern that has established itself in recent years. The reason behind it 
lies in the growing presence of the US-based institutional entities in the 
cryptocurrency sector, which happen to be the biggest users of Coinbase. 
Related Reading: Ethereum Open Interest Rises While Price Pulls Back: Short 
Squeeze Setup? Movements in the indicator can correspond to selling/buying 
behaviors of these massive investors, which is why the price tends to react to 
them. It now remains to be seen how the metric will develop in the coming days 
and whether the distribution from the American whales will ease off. Featured 
image from Dall-E, chart from TradingView.com

Bitcoin Falls Below $80,000: Coinbase Sellers To Blame?

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the likelihood of Israeli military escalation in Lebanon.
The post Israeli soldier killed by Hezbollah mortar fire near Litani River in 
Lebanon appeared first on Crypto Briefing.

Israeli soldier killed by Hezbollah mortar fire near Litani River in Lebanon

XRP price started a steady increase above $1.50. The price is now 
consolidating gains and might aim for more gains above the $1.520 zone. XRP 
price started a steady increase above the $1.50 zone. The price is now trading 
above $1.480 and the 100-hourly Simple Moving Average. There was a break above 
a bearish trend line with resistance at $1.4580 on the hourly chart of the 
XRP/USD pair (data source from Kraken). The pair could continue to move up if 
it settles above $1.520. XRP Price Aims for Fresh Increase XRP price started a 
fresh upward move above $1.450 and $1.4650, like Bitcoin and Ethereum. The 
price gained pace for a clear move above the $1.480 resistance. There was a 
break above a bearish trend line with resistance at $1.4580 on the hourly 
chart of the XRP/USD pair. The bulls even pumped the price toward the $1.520 
zone. A high was formed at $1.5496, and the price started a consolidation 
phase. There was a minor decline below the 23.6% Fib retracement level of the 
upward move from the $1.4109 swing low to the $1.5496 high. The price is now 
trading above $1.480 and the 100-hourly Simple Moving Average. If there is a 
fresh upward move, the price might face resistance near the $1.50 level. The 
first major resistance is near the $1.520 level, above which the price could 
rise and test $1.5350. A clear move above the $1.5350 resistance might send 
the price toward the $1.550 resistance. Any more gains might send the price 
toward the $1.5740 resistance. The next major hurdle for the bulls might be 
near $1.5880. Downside Correction? If XRP fails to clear the $1.520 resistance 
zone, it could start a fresh decline. Initial support on the downside is near 
the $1.480 level and the 50% Fib retracement level of the upward move from the 
$1.4109 swing low to the $1.5496 high. The next major support is near the 
$1.4640 level. If there is a downside break and a close below the $1.4640 
level, the price might continue to decline toward $1.450. The next major 
support sits near the $1.4350 zone, below which the price could continue lower 
toward $1.4120. The main support could be $1.4050. Technical Indicators Hourly 
MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly 
RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. 
Major Support Levels – $1.4800 and $1.4640. Major Resistance Levels – $1.5000 
and $1.5200.

XRP Price Dominates Crypto Market As Bitcoin And Ethereum Lag Behind

The postponement maintains domestic beef price stability, supporting US cattle 
farmers but potentially affecting consumer costs and trade dynamics.
The post Trump postpones beef tariff cuts amid concerns from US cattle farmers 
appeared first on Crypto Briefing.

Trump postpones beef tariff cuts amid concerns from US cattle farmers

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impacting regional perceptions of US commitment to Taiwan.
The post Trump plans to discuss Taiwan arms sales with Xi Jinping at summit 
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The deal signifies a pivotal shift in South Korea&#8217;s financial landscape, 
highlighting increased institutional acceptance of digital assets.
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in $670 million deal appeared first on Crypto Briefing.

Bitcoin Falls Below $80,000: Coinbase Sellers To Blame?

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