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Breaking News: Bitcoin Tops $73,000, Expert Explains Why The Rally Isn’t Over Yet
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Breaking News: Bitcoin Tops $73,000, Expert Explains Why The Rally Isn’t Over Yet

Bitcoin Surge To $74,000 Fueled By US Institutions, Coinbase Premium Signals

Keshav Verma
Keshav Verma
Last Updated: March 5, 2026 3:00 pm
2 mins read
Bitcoin

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Data shows the Bitcoin Coinbase Premium Gap spiked as the asset rallied toward $74,000, a potential sign that the platform’s institutional users were backing the run.

Bitcoin’s Coinbase Premium Gap Shot Up To $61 During The Rally

In a new thread on X, CryptoQuant community analyst Maartunn has talked about the latest BTC rally and what could be behind it. “Several data points show aggressive institutional demand driving the breakout,” noted Maartunn. One such metric is the Coinbase Premium Gap.

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This indicator measures the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair). The metric’s value essentially tells us about the difference in buying/selling behaviors on the two cryptocurrency exchanges.

Coinbase hosts an American-centric traffic, with institutional entities being among its main customers, while Binance is used by traders from around the globe. As such, when the Coinbase Premium Gap is positive, it can be a sign that the US-based institutions are applying a higher buying pressure (or lower selling pressure) than the world users.

Earlier, the indicator had a notable red value, suggesting that the asset was trading at a discount on Coinbase, but recently, it has seen a shift into positive.

Bitcoin Coinbase Premium Gap
The trend in the BTC Coinbase Premium Gap over the last couple of weeks | Source: @JA_Maartun

From the above chart, it’s visible that the Bitcoin Coinbase Premium Gap saw a sharp increase alongside the latest BTC price rally, implying that accumulation on Coinbase drove the asset to a higher value than the global market. At the peak of this surge in the positive territory, the indicator hit a value of $61. “That means BTC traded $61 higher on Coinbase vs other exchanges, a strong signal of U.S. institutional buying pressure entering the market,” explained the analyst.

Another factor that points toward institutional involvement in the rally is Hyblock data. As is visible in the graph below, Hyblock shows a rise in Time-Weighted Average Price (TWAP) orders from the $10,000 to $1 million cohort.

Bitcoin TWAP
How the TWAP orders from large entities changed during the price surge | Source: @JA_Maartun on X

A TWAP order is a trading algorithm that divides a large order into smaller pieces, executing them at regular time intervals. “TWAP orders are typically used by large players accumulating without moving the market too aggressively,” said Maartunn. The $10,000 to $1 million cohort purchased $750 million worth of Bitcoin via such orders alongside the rally.

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While institutions have shown demand, the analyst has warned of a risk brewing below the surface: the increasing amount of leverage in derivatives markets.

Bitcoin Open Interest
The Open Interest appears to have surged for both BTC and the altcoins | Source: @JA_Maartun on X

As displayed in the chart, the Open Interest, an indicator tracking the total amount of derivatives positions, has rapidly gone up for both Bitcoin and the altcoins. “If supportive bids slow down, overleveraged positioning can unwind quickly, increasing volatility,” noted Maartunn.

BTC Price

At the time of writing, Bitcoin is floating around $72,600, up nearly 6% in the last seven days.

Bitcoin Price Chart
Looks like the price of the coin has enjoyed bullish momentum over the past day | Source: BTCUSDT on TradingView
Featured image from Dall-E, chart from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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