bullish

Prime

Bitcoin

<p>In September 2024, Bitcoin (BTC) enjoyed an exceptional performance, marking its best September on record. This spectacular rise is largely attributed to the return of the Prime Coinbase, a key indicator of demand from American investors. A trend that could well propel BTC to new heights!</p>
<h2 id="bitcoin-up-22-in-three-weeks">Bitcoin up 22% in three weeks!</h2>
<p>In the last three weeks, <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">the price of BTC</a> has increased by 22%, reaching levels not seen since August. On September 26, the Coinbase premium hit a two-week high, indicating strong buying pressure from U.S. investors. This premium measures the price difference between bitcoin on Coinbase and other exchange platforms and is often used to gauge U.S. investor demand.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>This <a href="https://x.com/jjcmoreno/status/1839499395114439135?s=46&amp;t=zj7ICl0Lw9vdTKh741lFIQ" target="_blank" rel="noopener noreferrer nofollow">rise in the Coinbase premium</a> coincides with an increase in daily inflows to Bitcoin ETFs. On September 26, these inflows reached $365.7 million as BTC prices hit new monthly highs. This suggests that institutional investors are starting to turn to bitcoin again, especially after the rate cuts earlier this month.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitpanda.pxf.io/c/2801338/1295465/15871" target="_blank" rel="noopener noreferrer nofollow">Discover the Bitpanda platform</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-a-long-term-bullish-pattern">A Long-Term Bullish Pattern</h2>
<p>On September 23, Bitcoin managed to close above $65,000, breaking a five-month downtrend. This “high time frame” (HTF) pattern indicates a possible new long-term bullish trend. However, the key resistance levels to watch are now $68,100 and $71,500, which BTC/USD failed to surpass this summer.</p>
<p>Historically, September has been a bearish month for Bitcoin, with the largest previous gain being a 6% increase in 2016. However, this year, Bitcoin seems to be defying expectations, paving the way for a potentially bullish fourth quarter.</p>
<p>Finally, the return of the Coinbase premium and the increase in flows to Bitcoin ETFs suggest renewed interest in BTC from both institutional and retail investors. If this trend continues, Bitcoin could continue to <a href="https://www.cointribune.com/en/imminent-breakthrough-of-bitcoin-towards-an-historic-peak-at-80000/" target="_blank" rel="noopener noreferrer nofollow">surprise the markets in the coming months</a>.</p>

Bitcoin Up 22%! Coinbase Prime Announces A Powerful Bull Run

Table of Contents

Cointribune EN

Other articles published on Sep 28, 2024

Get Ready For Autumn By Stocking Up - Top 5 Cryptos Prepping for a Rocket Ride in October

Hamster Kombat's Season 1 Airdrop: Only 43% of Users Eligible

Rollblock’s $450B Market Potential: How It Measures Up Against VeChain (VET) and Theta Network (T...

Elon Musk Calls Kamala Harris’s Border Stance A Lie Ahead Of US Election

Can IntelMarkets Reach $1? XRP And SUI Investors Target Massive Profits On The Presale Of New AI ...

Bitcoin’s Best September Ever: 3 Key Factors Behind the $65,447.01 Surge

Join our free newsletter for daily crypto updates!