Institutional buying drives Bitcoin price up

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Source: CryptoNewsNet Original Title: Institutions Buying Bitcoin Pump Original Link: The Premium Gap index of a compliant platform has turned positive, indicating that Bitcoin’s trading price on that platform is higher than on a major exchange.

This compliant platform is typically used by US institutions, hedge funds, and high-net-worth individuals, who trade through its institutional-grade services.

The positive premium confirms that this rally is driven by spot buying demand from US institutions.

This is a fairly positive signal, as the rally is not fueled by leverage trading.

Why the rally has stalled

This leading cryptocurrency peaks at the close of the US trading session.

Institutional purchases are usually executed via algorithmic trading and are linked to the standard US stock market trading hours (9:30 AM to 4:00 PM Eastern Time).

After the US trading day ends (4:00 PM ET), the aggressive buying pressure from these institutions immediately ceases.

Bitcoin is currently trading slightly above the $94,000 level.

BTC-0,61%
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