Coinbase Premium Index Falls to Four-Year Low; CryptoQuant Founder Says Pessimistic Market Sentiment May Be a Contrarian Bullish Signal

TechFlow reported on October 30 that CryptoQuant founder and CEO Ki Young Ju said on X that the Coinbase Premium Index has fallen to its lowest level in four years. The last time it was at such a low was in November 2022, when Bitcoin touched a cycle bottom after the FTX collapse. He believes the current market sentiment has become so pessimistic that it carries bullish implications. The Coinbase Premium Index reflects the difference between Bitcoin prices on Coinbase and Binance and is often used as an indicator of buying pressure in the U.S. market.

Source: TechFlow