‍Coinbase Volume Surge: Institutional Buyers Drive Bitcoin Potential
Coinbase data indicates a significant uptick in institutional Bitcoin (BTC) trading volume, reaching 75%. This level historically precedes Bitcoin price increases within a week.
Institutions are acquiring Bitcoin at a rate 600% higher than the daily mining supply. Corporate treasuries alone added substantial BTC amounts recently.
This trend is linked to an improving US macroeconomic outlook and expectations of Federal Reserve rate cuts, making Bitcoin an attractive risk asset in a potentially easing monetary environment. The market anticipates a rate cut in September, with further cues expected from the Jackson Hole symposium.
* Coinbase institutional BTC volume at 75%.
* Strong institutional buying exceeding daily mining supply.
* US economic data fuels expectations for Fed rate cuts.
* Bitcoin viewed favorably in an easing monetary policy environment.