Bitcoin circles $70K as Coinbase Premium sees first green spike in a month

💡 DMK Insight

Bitcoin’s recent stabilization near $70,000, coupled with a positive Coinbase Premium, could signal a shift in market sentiment. This is the first time since mid-January that we’ve seen a positive premium, which often indicates increased buying interest from retail investors on Coinbase. If BTC can hold above this psychological level, it might attract more momentum traders looking for a breakout. Traders should keep an eye on the $70,500 resistance level; a sustained move above could trigger further buying, while a drop below $68,000 might raise concerns about a potential pullback. However, it’s worth noting that the broader market remains cautious, with macroeconomic factors still looming. If traditional markets react negatively, it could spill over into crypto, regardless of the current bullish signals. So, while the Coinbase Premium is a positive sign, traders should remain vigilant about external influences that could impact BTC’s trajectory.