Coinbase News: Coinbase Premium Shows Strength Amid Declining Bitcoin Prices

Recent developments in the cryptocurrency market have shed light on an intriguing trend involving Coinbase and Bitcoin ($BTC). Despite the ongoing uncertainty and decline in Bitcoin’s price channel, the Coinbase premium is displaying resilience, as highlighted by a CryptoQuant analyst.

Coinbase Premium Surges Despite Decline in $BTC Price Channel

The Bitcoin ($BTC) market is experiencing uncertainty with its price channel continuously declining. However, according to a CryptoQuant analyst, ’Avocado_onchain,’ despite the decrease in Bitcoin’s market trajectory, the Coinbase premium is reportedly displaying higher lows. This reportedly indicates dependency among the institutional investors in the U.S. Bitcoin has gone through frequent pullbacks in recent weeks, keeping its price locked.

Coinbase FIU Approval Paves Way for Reentry Into India’s Crypto Market

Coinbase has secured regulatory approval from India’s Financial Intelligence Unit (FIU) to operate in the country, bringing the U.S. crypto exchange one step closer to reentering the Indian market after nearly three years. The approval could enable Coinbase to resume operations in India. John O’Loghlen, Regional Managing Director for APAC at Coinbase, expressed the company’s commitment to building in markets that believe in the potential of crypto and on-chain innovation. India represents one of the most exciting market opportunities in the world today, and Coinbase is proud to deepen its investment here in full compliance with local regulations.