US Whales Behind Bitcoin's $64K Rebound, CryptoQuant Analysis Suggests

A recent analysis from CryptoQuant suggests that US-based whales have been behind the recent price rebound of Bitcoin to $64,000.

The Coinbase Premium Index, which measures the difference in price between Coinbase's and Binance's BTC/USDT pairs, is showing early signs of buy-side momentum regaining strength.

According to CryptoQuant contributor Burak Kesmeci, 'the current picture is a catalyst for a short-term bounce, but for a real long-term regime change, this metric needs to break above zero.'

Bitcoin Suisse also noted that 'something shifted' in the market this week, with institutional demand increasing and investor sentiment remaining sensitive to small BTC price moves.