Good evening to all my friends. I hope you all are doing well. I am having a fantastic day. Today i am going to talk about current situation of crypto market. Currently, Bitcoin is trading around $92,500, and we are looking at the CoinBase premium, which is a critical indicator for investors. The CoinBase premium shows us when Bitcoin is trading higher or lower on CoinBase compared to other exchanges. When the premium is positive (green), Bitcoin trades higher on CoinBase, and when it's negative (red), it indicates panic selling from retail investors. Recently, the CoinBase premium has been at levels similar to October 2018, when there was a significant market crash. In 2018, when the market faced USDT-related concerns, Bitcoin saw a 50% crash. Despite the current panic and selling, Bitcoin hasn’t crashed the same way, mainly because institutional money is absorbing the selling pressure.
When most people are bearish and fearful, it usually signals a market bottom and potential reversal. Historically, when USDT has faced issues, it’s been a bottom signal for the market. So, if retail investors are panicking and selling, it may indicate the market is at its lowest point. In the current market, despite the panic, remember that you have options to convert your holdings into other stablecoins like USDC or BUSD. This provides some safety amid the uncertainty. In summary, if retail investors are fearful and selling, it often indicates a market bottom, so stay calm and make informed decisions. That's it for today. Thanks & have a good day!!
@abfarhan