Major cryptocurrencies continued to surge on Thursday evening, propelled mainly by the strong demand from U.S. investors for the largest cryptocurrency BTC.
| Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EST) |
| Bitcoin (CRYPTO: BTC) | +0.15% | $52,073 |
| Ethereum (CRYPTO: ETH) | +1.62% | $2,842 |
| Dogecoin (CRYPTO: DOGE) | +0.78% | $0.086 |
What Happened: BTC has been trading at its highest premium in 9 months on the U.S.-based crypto exchange Coinbase.
The “Coinbase Premium Index,” which gauges the price variance for Bitcoin on Coinbase versus Binance surged to 0.12 on Thursday. This marks its peak reading since May 2023, as revealed by data from analytics firm CryptoQuant.
“High premium values could indicate US investors’ strong buying pressure in Coinbase,” CryptoQuant said.
Top Gainer (24 Hour)
| Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EDT) |
| Arweave (CRYPTO: AR) | +21.76% | $12.01 |
| VeChain (CRYPTO: VET) | +19.98% | $0.044 |
| Bitget (CRYPTO: BGB) | +18.90% | $0.86 |
The global cryptocurrency market cap now stands at $1.94 trillion, showing a 3.61% increase in the past 24 hours.
In Wednesday’s trading session, stocks made a recovery as Wall Street regained some of the significant losses from the previous day. The S&P 500 showed an advancement of 0.96% to reach a closing figure of 5,000.62, while the Nasdaq Composite exhibited a strong climb of 1.3% to settle at 15,859.15. Additionally, the Dow Jones Industrial Average added 151.52 points, representing a 0.4% increase, and closed at 38,424.27.
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Analyst Notes: Cryptocurrency analyst Michael Van de Poppe offered a tip for people feeling the rush to enter Bitcoin or the markets,
“Don’t. Just don’t listen to the emotions. It’s a recipe for disaster. How should you enter? There will be 20-30% corrections. Always. No matter the narrative. Use those as an opportunity.”
A general tip towards people feeling the rush to enter #Bitcoin or the markets:Don’t.Just don’t listen to the emotions. It’s a recipe for disaster.How should you enter?There will be 20-30% corrections. Always. No matter the narrative.Use those as an opportunity.
— Michaël van de Poppe (@CryptoMichNL) February 15, 2024
Pseudonymous crypto trader Rekt Capital said, “With BTC rallying this much to the upside, many will doubt whether BTC will ever…
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