“Binance and Coinbase Whales Boost Bitcoin as ‘Spoofy the Whale’ Vanishes, BTC Premium Surges”

Whales have re-entered the Bitcoin market, boosting the price above $90,000, with Coinbase and Binance witnessing increased BTC exposure. The disappearance of resistance at $90,000, attributed to “Spoofy the Whale,” has led to a surge in buying pressure from large-volume investors. The Coinbase premium, indicating US buyer interest, has hit its highest level since February, reflecting strong demand between Coinbase and Binance. Market data from CryptoQuant shows whales from both exchanges pushing the market up. Retail investors, who were bearish due to recent price volatility, have been shaken out, paving the way for a potential market rise. Binance order book data supports this theory, with all classes of whales buying and the vanishing of resistance at $90,000. Bitcoin still needs to reclaim its yearly open at around $93,500 to solidify a bullish trend. This article does not offer investment advice, and readers are advised to conduct their research before making any financial decisions.

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