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US Institutions Buy Bitcoin for the First Time in 10 Days

U.S. institutional investors have begun to actively buy Bitcoin (BTC) for the first time in about 10 days since August 31st. “The Coinbase Premium Gap (CPG), a measure of Bitcoin buying and selling trends, turned positive for the first time in about 10 days since Aug. 31, reaching 9.91,” on-chain data analytics service CryptoQuant (CQ) reported at 7 a.m. on Sept. 10. This indicates that the selling has been strong until recently. The Bitcoin CPG shows US institutional investors buying and selling. A positive reading indicates strong buying, while a negative reading indicates strong selling.

This indicator has been mostly negative since August 31st. This indicates that US institutions have been selling recently. CPG has been moving in tandem with Bitcoin's recent price rise and fall. This suggests that US institutions are driving Bitcoin's price movements. Bitcoin jumped from $54,849 (about $73.74) at 11pm on September 9 to $57,467 (about $77.26) on September 10, a jump of about 5%. The CPG also jumped from -10.01 to 24.12 during this time.

Earlier, when Bitcoin plunged by more than 6% from $56,875 (about $7647) at 9 p.m. on Sept. 6 to $53,498 (about $7193) at 4 a.m. on Sept. 7, the CPG widened its negative range from -5.3 to -55.58.

“Zhao Changpeng's release from prison could boost BNB and 5 other altcoins”

With former Binance CEO Changpeng Zhao set to be released from prison on September 29th (local time), BeInCrypto reports that five altcoins are likely to see an uptick in value. BNB is one of the most prominent coins expected to see price movement following Zhao's release from prison.

blockchain crypto cryptocurrency French Hill blame Gary Gensler (SpotedCrypto)

French Hill : “SEC's approach to regulating crypto firms will only confuse markets”

During a hearing on the Securities and Exchange Commission (SEC) held by the U.S. House of Representatives' Financial Services Committee on March 18 (local time), Congressman French Hill criticized SEC Chairman Gary Gensler's approach to regulating cryptocurrency companies, saying that it is causing confusion and uncertainty

blockchain crypto cryptocurrency us fed ratecut 50bp (SpotedCrypto)

US Fed 'big cuts' interest rates by 0.5 percentage point to bring inflation closer to target, considers another 50 basis point cut later in the year.

The US Federal Reserve's (Fed) Federal Open Market Committee (FOMC) announced in an official statement that it will cut its benchmark interest rate by 0.5%. This is the first rate cut in nearly four years. The Fed raised rates from March 2022 through July of last year.

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